26
Oct
By Amir Ahmadzadeh
Mortgage , ,

When does an FHA Streamline Refinance Make Sense?

The FHA streamline refinance is not right for everyone, but if rates significantly dropped or you can afford a fixed-rate loan and want out of an ARM, it can make sense. If you’ll stay in the home for the foreseeable future, you can either save money on interest or have a more predictable payment. Before you jump on board, ask yourself: Am I saving enough money to make the cost of refinancing worth it? Would I feel more at ease with a fixed-rate loan versus an ARM? When Doesn’t an FHA Streamline Refinance Make Sense? Like we said, sometimes it…
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17
Jun
By Amir Ahmadzadeh
Mortgage , ,

Is an ARM Loan Right for You?

In today’s competitive housing industry, it’s important to find the loan that’s right for you. With the low-interest-rate environment, many buyers wonder if an ARM loan is the best choice. Here’s everything you should consider before choosing an ARM loan. Understanding how an ARM Loan Works An ARM loan offers an introductory rate. The rate remains fixed for the first few years. After the fixed period, the rate adjusts annually based on the index (such as LIBOR) and the chosen margin set by the lender. Many buyers prefer the ARM because the initial payment is much lower so they can…
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05
Apr
By Amir Ahmadzadeh
Mortgage , ,

Should You Consider an Adjustable Rate Mortgage For Your Home Purchase?

With mortgage rates finally looking like they may move upward a bit as the overall market improves the adjustable rate mortgage starts to come into play again. Better known as the ARM home loan, the adjustable rate mortgage can be a flexible, powerful tool, depending on how it is used. ARMs Can Help Save On Total Interest Expense When rates were higher years ago, the ARM was an alternative way to obtain financing for a home without paying as much in interest with every payment. This was ideal for folks who felt that a few years forward the regular market…
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09
May
By Amir Ahmadzadeh
Mortgage Rates , ,

With LIBOR Low, Don’t Rush To Refinance Your ARM

Is your mortgage scheduled to adjust this season? You may want to let it. This year's ARM-holding homeowners in California are finding out that an adjusting mortgage may be the simplest way to get access to today's low mortgage rates -- without paying the closing costs. Currently, conventional adjustable-rate mortgages are adjusting to near 3.00 percent. If your home is financed via an adjustable-rate mortgage, you're likely cognizant of your loan's life-cycle. At first, your ARM's initial mortgage rate is agreed upon between you and your lender, a rate that both parties agree will remain in place from anywhere from…
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