Tag "adjustable rate mortgage"
If you are in the market for a home, your mortgage options go beyond the traditional 30-year mortgage. Fixed rate, variable interest rate and balloon mortgages are available today, with each one offering advantages and disadvantages that consumers should be aware of.
Say “adjustable rate mortgage” to many consumers and you’ll hear a variety or responses, with not a few being quite negative. That’s because ARMs are associated with sub-prime lending, which was quite common and have been routinely blamed for our current mortgage crisis.