adjustable rate mortgage (ARM) is a mortgage
option that has a rate that's fixed for the
first several years of the loan and then adjusts
up or down according to financial markets.
- Get a lower monthly payment than a fixed-rate
loan. Adjustable-rate mortgages have lower
rates, giving you more money to work with
- The average homeowner moves every 7 to 9
years, so why get a 30-year mortgage? Get
a lower monthly payment and get only the financing
you need. Don't pay extra for 30 years of
security when you only need 3, 5 or 7 years.
- Choose an interest-only option to get an
even lower monthly mortgage payment. Each
month, you choose whether or not to pay principal
on your loan for the first 10 years of the
loan. Pay some of the principal, and you'll
see next month's interest payment go down,
- Not bad for a first-timer. Now first-time
home buyers can get a tax credit up to $7500!
“First-time home buyers” include
anyone who hasn't owned a home in the past
three years. Talk to your mortgage banker
to find out more.
Now With Our Quick 2 Minute Application Form
Albuquerque Home Loan Options From