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Portland OR Real Estate
Use my map based search system to target properties and neighborhoods throughout the Portland Oregon Metro area including Beaverton, Lake Oswego, Gresham, Hillsboro, Milwaukie, Sherwood, Tigard and Tualatin.
Financing Your Home >More On ARMs
Lenders are always looking for new ways to help buyers get into the home of their dreams. Today they frequently use adjustable rate mortgages (ARMs) to increase the buyer's options. The interest rate on an ARM changes periodically to reflect changes in the national market. Since the loan starts at a rate that is lower than the national average, lenders can reduce the borrower's qualifying criteria.
One way to distinguish between different ARMs is by the national index to which they are tied. Some ARMs are tied to a slow-moving index called the cost-of-funds index; these are usually the most desirable. ARMs that are tied to a more volatile index, such as Treasury Notes, can be adjusted upward at a quicker rate. Look at all the factors before choosing a loan. The faster index loan may start out with lower rates and lower monthly payments, but the slower index ARM may eliminate your concern about having to re-finance down the road.
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What house is thought to be the first one designed by Frank Lloyd Wright?
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Charnley House in Chicago, Illinois, is considered to be the first home designed by Wright while at Adler & Sullivan. |
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Seattle Real Estate
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