ARM interest rates, otherwise known as adjustable interest rates are rates that adjust at periodic and predetermined intervals. Many borrowers take the ARM loan because of its attractive introductory rate. These rates are often lower than fixed interest rates, providing an attractive alternative. Looking for Current Mortgage Interest Rates? Click Here. The reasons borrowers take […]
When’s the Right Time to Lock in an Interest Rate?
Interest rates fluctuate daily and sometimes even more than once a day. If you have your eye on a specific interest rate, you may be anxious to lock it in when it’s available. Before you do, you should know the right time to lock an interest rate. Compare Offers from Several Mortgage Lenders. What is […]
How Does a Floating Interest Rate Work?
You may know a floating interest rate as an adjustable rate or ARM. When you have a floating rate, it doesn’t remain the same for the life of the term, as a fixed-rate does. An ARM changes according to its terms, typically on an annual basis. Get Matched with a Lender, Click Here. Keep reading […]
Can You Make a Mortgage Payment With Your Credit Card?
Paying your mortgage with a credit card would certainly help you rake in the rewards on your credit card, right? Unfortunately, it is pretty difficult to make this happen. Many credit card companies don’t allow you to use a credit card to pay another debt. Even if your credit card company allows it, the card […]
Are Interest Rates Higher for Borrowers with Irregular Income?
Self-employed and commissioned borrowers face a unique situation when trying to obtain a mortgage. Because their cash flow might not be as consistent as someone with a standard salary, it can be hard to document their income for qualification purposes. These borrowers are often left without a mortgage because of the difficulty with their income […]
What Does Your Credit Score do to Your Interest Rate?
If you are like most borrowers, you want to know what interest rate you can get on a new mortgage. The interest rate determines how much ‘extra’ you have to pay towards your mortgage in order to borrow the money. While most borrowers want the lowest interest rate possible, they don’t know what truly affects […]
Is an Interest Only Home Equity Line of Credit Smart?
If you have equity in your home, you may have a use for it. Whether you need debt consolidation or have home renovations on your mind, a home equity loan might be a good choice. However, you have choices. There is a home equity loan and an interest-only home equity line of credit. Compare Offers […]