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QUESTION: When does FHA mortgage insurance taken off my monthly payment?
February 15, 2019
QUESTION: When does an ARM (adjustable rate mortgage) start adjusting?
February 15, 2019

QUESTION: Is an ARM (adjustable rate mortgage) a dangerous product?

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Answer:

ARM loans can be a great product for the right person and situation. Most of the time you can get a lower rate than a fixed rate, so if you know you are not going to be in your home for more that the initial term of the ARM, it could be a fit. If you are on a fixed income/budget an ARM may be a risky option since you will not know for sure down the road what the payments might be.

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