| Scot Lilly 2005-06-17, 11:27 pm |
| Remember that when you look at ARMS, many are fixed for a certain amount of
time. If you are thinking that you will only be in a house for maybe 2-7
years, they often are the best product for you since you are going to need a
new loan for your new residence anyway. These rates are often lower. Also,
don't forget that on most ARMS you can also do interest only. This is good
also if you are in a neighborhood that is growing in value. You will get
natural appreciation and the equity in you home will be realized from this.
You will be able to take advantage of a lower monthly payment along with
using your tax deductions from interest payments on your house. This could
help you keep more money in your pocket.
And just to add one more thing. You can often do 100% financing on ARMS by
doing a two part loan. Once for 80% of the value and the other for 20% of
the value. This gets you by having to pay mortgage insurance.
--
Scot Lilly
slilly@pratamortgage.com
www.pratamortgage.com
"Jeff Strickland" <beerman@yahoo.com> wrote in message
news:10l19i5d5e5qi67@corp.supernews.com...
quote:
> Variables are NOT for suckers. They are not for everybody, but they are
> most
> certainly a good mortgage for some people. It is impossible to tell if a
> variable, Adjustable Rate Mortgage (ARM), is good for you, but it could
> be.
>
>
>
>
> <reply@this_newsgroup.com> wrote in message
> news:sQg3d.177945$%n4.50598@bignews6.bellsouth.net...
> with
> at
>
>
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