Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

ARM vs. Fixed
ARM vs. Fixed
 
If Stairway to Heaven is the most overplayed song, then the 30-year fixed mortgage has got to be the most overplayed loan option.  And like the iconic tune, the 30-year fixed is really great.  I mean for most borrowers, it's the clear way to go.  No rate changes, 360 equal payments and if you don't refinance, sell the house or kick the bucket first, the loan is fully paid off 30 years down the road.  But even if the 30-year fixed is a great and popular option, is it the best option for everyone?  We're seeing that more and more homeowners are opting for ARM loans these days but with that choice comes additional complexity and terminology to understand, so let's roll up our sleeves, bear our guns and get our arms around ARMs.
 
Slingin' ARM Lingo
When one starts examining an adjustable rate mortgage, things can get interesting, fast.  Why?  Because unlike the straightforward concept of a fixed rate loan, ARMs have several features that govern how they will work over the course of their term.  We're going to cover each below.  But first...
 
The programs we're going to cover on the ARM side are technically "hybrid" loans, and that's all we ... more

__________________________________________________
Are you on The Rain? Grow Your Network!