fixed rate: Would You Have Answered The Mortgage Type Quiz Correctly? - 06/13/07 11:32 PM

The pie chart above comes from a Bankrate.com survey, sampling 1,000 adults about their current housing situation.
The question asked: What type of mortgage do you currently have? 
While the 34% "Don't Know" figure is troubling, even more frightening is the 6% "ARM" figure. 
The sample size was small, but far more than 6% of homeowners carry adjustable rate mortgages.  Some of the survey responders may have mistaken their "5-year fixed rate mortgage" for a true fixed rate mortgage -- even though they are aware that the rate can change after 60 months.
According to the Federal Reserve, ARM holders tend … (0 comments)

fixed rate: The Mortgage Planning Process - 05/06/07 11:55 PM
The mortgage planning process is different than the typical "shopping for a mortgage" experience. The mortgage planning relationship is not about you:
Wasting your valuable time trying to save $25/month by comparing rates, fees and closing costs among different lenders. Wasting your valuable time trying to baby-sit the mortgage company you've reluctantly chosen to work with. Being promised one thing and then getting something different at closing. Being "sold" on one mortgage product over another. The mortgage planning relationship is about you:
Receiving valuable financial advice and guidance that can literally save you hundreds of thousands of dollars. Trusting a professional … (0 comments)

 

John Caylor

Post Falls, ID Mortgages

Post Falls, ID

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Infinity Financial Group

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