 |
 |
||
|
|||
Refinance - Home Equity - 2nd Mortgage - Debt Consolidation - Home Improvement - FHA VA
 |
 |
|
|
 Popular Terms 30 yr Fixed |
10/1 ARM Loans A 10/1 ARM is an adjustable-rate mortgage, or ARM, that has an initial interest rate for the first 10 years, and thereafter has an adjustment interval of one year. Each annual rate adjustment is based on (or "indexed to") another rate -- often the yield on a Treasury note. Someone taking out a $165,000.00 10/1 ARM at the current average would pay $887.77 a month for the first 10 years of the loan. The rate would change annually thereafter. Nationally, the highest rate on a 10/1 ARM was 6.00 percent. The lowest rate was 4.50 percent. Six months ago, the average rate in the U.S. was 5.26 percent.
|
Most Conservative Loan Product A 30-year fixed mortgage is a loan that has an interest rate that stays the same for the 30-year term of the loan. Someone taking out a $165,000.00 30-year fixed mortgage at the current average would pay $913.18 a month for the life of the loan. Nationally, the highest rate on a 30-year fixed mortgage was 6.50 percent.
The lowest rate was 4.50 percent. Six months ago, the average rate was 5.68
percent Most Aggressive Loan Product A 1-year ARM is an adjustable-rate mortgage (ARM) that has an initial interest rate for one year, and thereafter has an adjustment interval of one year. The adjustment is based on a comparison of interest caps and the indexed rate. Someone taking out a $165,000.00 1-year ARM at the current average would pay $714.47 a month for the first year of the loan. The rate would change annually thereafter. |
 |
 |
|
Cash Out Refinance |
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
 |
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||
©1998-Present Smart Home Mortgage Loans. Website Developed by SLN, Inc. All rights reserved.
|
||
|