QUESTION: I have been told that credit inquiries can really lower my credit score? How much does it hurt me if I have an inquiry.
February 15, 2019
QUESTION: What is the advantages to escrow or not to escrow? Which is the best?
February 15, 2019

QUESTION: I wanted to get an ARM loan for the lower payments since I will not have the home that long. My lender is telling me that it is harder to qualify for an ARM than a fixed rate loan?? Sounds wrong to me!


Your lender is most likely correct but it depends upon the program and the lender. Overall, on most ARM loans you have to qualify at 2% over the start rate
or the fully indexed rate (the margin + the index). That can be higher than fixed rates. ARM’s are condsidered more risky and many lenders make it
a little harder to qualify for them.

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