Adjustable Rate v. Fixed Rate Mortgages

Adjustable rate v. Fixed rate mortgages - Paramount Equity®

Rate Mortgage-Paramount Equity®If you can place yourself in the enviable position of applying for a mortgage for your own home, count your blessings. Credit is tight right now and current homeowners can typically only refinance their mortgage loan. They certainly don’t have any chance of selling their home at a profit.

Banks Are in Hot Water

A few bad apples can certainly ruin a harvest. For many years, the banking community pushed adjustable rate mortgages on applicants that could ill afford any mortgage at all. These shenanigans set off the housing market meltdown that is responsible for starting the global economic chaos.

Take care and due your homework to accept the best situation possible. A source (more…)

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Why is Your Mortgage a 30-Year?


Many people who buy houses get 30-year fixed mortgages to make the purchase, because they are considered to be the industry standard. If you’re not planning on being in your house for 30 years, why is your mortgage a 30-year loan? In reality, you may not need to get the traditional 30-year fixed mortgage to buy your house.

Using ARMS for Short Term Home Ownership

If you plan on selling your house at some point in their future, it may not make sense to get a traditional 30-year fixed mortgage. One alternative is an adjustable-rate mortgage or an ARM. (more…)

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