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Florida Mortgage | Fixed Rate or ARM ~ the decision depends on YOU

Fixed Rate Mortgages (FRM) versus Adjustable Rate Mortgages (ARMs) is a hot topic of debate right now.

So now YOU want to buy a house or refinance your loan and you're getting drawn and quartered by your "trusted advisors" about whether you should get a Fixed Rate Mortgage or an Adjustable Rate Mortgage (ARM).

Different people swear by different financial philosophies... the problem is they are DIFFERENT FROM YOU.

Your Mortgage Broker will understand the nuances of your unique financial situation and will help you decide on a loan program based on your needs and preferences TODAY as well as help you plan for the future.

There are several criteria that are weighed to make the decision. A few of them are as follows:

Your life stage
Your career stage
Your income and future potential
Your family stage
Your stability
Your property needs

The choice between the Fixed Rate Mortgage and the Adjustable Rate Mortgage is ultimately up to the borrower. The Mortgage Broker can only advise... but a good mortgage broker can show that there are definite advantages to both programs for all borrowers.

For more detail, including a consumer-friendly table showing how different life-stages can lead to different mortgage decisions, please go to - Florida Mortgage | Fixed Rate or ARM ~ the decision depends on YOU.

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David A. Podgursky, MBA
The Mortgage Go To Guy!!
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Technorati Tags: mortgage broker, mortgage, palm beach county, palm beach loan, palm beach mortgage, boca raton, boca raton mortgage, boca raton loan, ARM, FRM, adjustable rate mortgage, fixed rate mortgage, interest only, florida, loan, real estate

Posted by David A. Podgursky, MBA The Mortgage Go To Guy! on 07/27/2007 11:44 PM

Comments (26)

fixed rate, mortgage, adjustable rate, arm, carnival of content, mortgage broker, florida

Originally posted at: Boca Raton & Boynton Beach Florida Mortgage Blog: Florida Mortgage | Fixed Rate or ARM ~ the decision depends on YOU

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26 Comments on Florida Mortgage | Fixed Rate or ARM ~ the decision depends on YOU

JUL

2007

David, a last minute entry! I love the stick people! Nice job!

David - The table was an outstanding addition. I agree with Kim, love the stick people!!! This is easy on the eyes and a great read for anybody who would like a reference manual on fixed vs adjustable rate mortgages.

David, very user friendly. My article is nothing comparing to yours. I hope you win!

David, Well first off I hope you don't win!. However, I give..UNCLE..Great piece. You where right about waiting. It was worth it.

Great article, David. A real winner. Terrific summary of information to consider on both sides of the issue.

Jeff

Jeff - thanks!

Matt - same to you buddy

Vyvyan - glad you came in after the bell!

Jason - thanks!

Kim - I had it in draft mode all day but got back so late last night that it had to be a late entry

David, this is a great post - one that I will be forwarding to friends and family. One problem, though - shouldn't your stick people get fatter as they age? ;)

Betsy... I'm big boned, not fat - thank you very much!

David,

Hands down, you did really well, I think you broke down the scenerios to make it very simply understood, i'm not suprised, I liked it very much..

Tom Weiss

David.... good job here. Not only good breakdown in the beginning, very good charts and timelines, but a very good ending. The ending describing the need for strategies and that they change. Basically stating that you need to know their goals.

On another note, whose the artist. ;o) Seriously, very good job.

jeff belonger

David, you covered a lot of scenarios which make it very easy to see the differences between the two Loan Programs at different stages in life.

The art on the other hand.............well lets just say that art class was probably not you best class in school :)

David, awesome job breaking it down with life stages and goals. Very nice post and deserves a top ranking.

David - Gave you a 5 - hey Moderators this would be a FABULOUS feature- love the simple, easy to read format - great visuals - great content - did I mention yet that I think this is a GREAT post - a real WINNER!!!

David, great job, you break things up really well, easy to understand and chart format is outstanding

JUL

2007

Michael - thanks!

Robert - that means a lot from you!

Cyndee - thanks for the support!

George - thanks so much!

Jeff - yeah yeah yeah... I don't put my art online! brings the gallery prices down

Tom - thanks... hands up or down!

David, your chart makes for a very easy to read and understand guide to mortgages. EXCELLENT. I love that you want to educate the consumer and help them make their own choices rather than telling them what's going to be best for them, and that you realize (and say) that what's best changes.

Thanks Sarah!

JUL

2007

David you were definitely in my top 3!

Loved it!

David great post and I ditto Sarah's comment, "I love that you want to educate the consumer and help them make their own choices rather than telling them what's going to be best for them, and that you realize (and say) that what's best changes."

Meg and Mike - thanks!

JUL

2007

Thank you very much for sharing, I need to pass this on to everyone in my branch, I think everyone needs to educate their customers to the pros and cons of their decision and what would be the better choice based on their situation using your charts and timelines. I think in too many offices, there are a lot of LO's that look at ARMS as a type of annuity for their income without thinking about their customer's best interests. Each one of us can make a difference by educating clients one at a time.

thanks Shane

AUG

2007

David, I must have missed the competition part of this article, but i did appreciate the transparent way you offered the options to a consumer. I am miffed today that I can feel a floodgate of regulations coming to "protect" the consumer. And frankly all that does is make it harder and more expensive to buy for everyone.

thanks Steve!

and harder for builders who have spec homes...

AUG

2007

David~

Great Article. Keep it up!

Cristy

David, I liked it enough to "borrow" it. It is now safely ensconced on my computer so I can refer back to it later.

There are a couple more factors that could have been in the matrix. Here in Southern California people live in their homes on average 5 years which lends itself to an ARM over a fixed rate.. Also, as a "wealth builder" an ARM is very useful when the borrower has the discipline to invest the rest of what would have been the payment if they had a fully amortized fixed rate loan. into a higher yielding investment.

Thanks for all your hard work.

Bill Roberts

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