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Refinance - Home Equity - 2nd Mortgage - Debt Consolidation - Home Improvement - FHA VA
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Popular Terms 30 yr Fixed
Mortgage Rates Advantages The question, "Should I get a fixed rate or an ARM?" has puzzled every home buyer who has shopped for a loan.The ARM, of course, is an adjustable-rate mortgage whose interest rate can go up or down. By contrast, a fixed-rate loan locks in your rate for the life of your loan -- there's no need to guess as to where the rate will be next year or in 15 or 30 years. At first glance, an ARM looks like a heckuva good deal next to a fixed rate. The average ARM rate nationwide is usually less than the average fixed-rate. So far that looks like a no-brainer, right? The gamble But there's a gamble involved, and ARM buyers can get burned as a result. With an ARM, your payments are lower for the first three or four years, and will stay low -- provided interest rates in general don't skyrocket. If they do, the lender typically will adjust your ARM rate upward by a maximum of 2 percentage points a year, and a max of 6 percent over the entire loan period. An ARM that starts out at, say, 5.75 percent can increase to 7.75 percent in the second year, to 9.75 percent in the third year, and to 11.75 percent in the fourth year. Over that period your monthly payment would shoot up from $581 to $1,000. On the other hand, when most interest rates are in a decline, such as during a recession, that tends to keep ARM rates low.
Popular Virginia Searches Virginia
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Virginia Mortgage Rates Welcome Virginia Homeowners! Are you shopping for a low mortgage rate? Let Smart Home Mortgage Loans help you. We can save you time, money, and headaches with our free mortgage rate quote service. Simply fill out our Virginia Mortgage Rate form below & you'll be on your way to finding the best Virginia mortgage rates offered in your local area. Even a small difference in a Virginia mortgage rate can make a big difference in your mortgage payment! We are here to help you clarify the often confusing mortgage loan process. Many of the pages you will find here are tailored with the mortgage consumer in mind. Armed with this valuable information, you will have the power to become a more informed Virginia consumer and pay less with your lower mortgage rate!
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Mortgage Resources Mortgages 
Virginia Factoids Virginia played a pivotal role in the early formation of the country. Eight presidents were born here, including Washington and Jefferson. The state was named for Queen Elizabeth I of England (she was known as the Virgin Queen). Sir Walter Raleigh may have suggested this name around 1584. Flanked by the James River, Rappahannock River, Potomac River and Shenandoah River, the Old Dominion State is known for its world-class rafting and camping as well. The natural beauty from the Blue Ridge mountains to the Atlantic beaches make Virginia a great place to live!
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