Adjustable Rate Mortgages (ARM) are not very unpopular right now thanks to the media bashing them.
Adjustable Rate Mortgages (ARM) are not very unpopular right now thanks to the media bashing them. To make things worse, they currently (August 31, 2007) have higher rates than Fixed Rate Mortgages. This poses a problem for people that want a lower payment but now are demanding the secure rate of a Fixed Rate Mortgage.
My favorite Hybrid Mortgage program is a 30 year Fixed Rate with 10 years or 15 years of Interest Only…. hence the Hybrid moniker.
- Lower payments than traditional 30yr Fixed
- Longer Interest Only period than most people remain in the same property
- Pairs great with any Mortgage Pay-off Program
To purchase or refinance with this Mortgage today, contact your favorite Mortgage Broker Today!