ARMs coming to an end... what's next?
A reader asks:Are creative mortgage products going to create buying opportunities as interest rates rise and peoples ARMS come to the end of their fixed rate term?
Our reply:
Lenders are already coming out with products that have longer amortorization periods which make monthly payments lower and enable buyers to qualify for the loan. There are now 40 year Adjustable Rate Mortgage (ARM) loans and other new products according to Dennis Kowalski at Princeton Financial.
- Mick Orton
posted by SFResidence.com @ 9:06 PM
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