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Adjustable Rate Mortgages Offer Alternatives For Home BuyersW. Troy Swezey When looking for a mortgage to meet your needs, consider these key questions: Is your income expected to increase in the coming years How long do you plan to live in your new home And, which mortgage will provide the lowest interest rate While 15 or 30 year fixed-rate mortgages are the most popular, and Adjustable Rate Mortgage ARM offers some interesting alternatives for home shoppers who plan to move again within four or five years. Although interest rates are the lowest they�ve been in 20 years, an ARM provides even lower interest rates during its introductory period. An Adjustable Rate Mortgage is a home loan with an interest rate that fluctuations with market interest rates. Instead of paying the same rate of interest over the life of the loan, as you would with a fixed-rate mortgage, you usually pay a lower interest rate the first four or five years. Your interest rate then changes in accordance with certain rate indexes. However, ARMS come with maximum caps on how much the interest rate can increase in a single period usually a year and how high the rate can go during the entire life of the loan. Usually, the overall maximum cap is six percentage points, and the annual cap is two points
| | | | RELATED ARTICLES Begging Your Trust in Africa The syntax is tortured, the grammar mutilated, but the message - sent by snail mail, telex, fax, or e-mail - is coherent: an African bigwig or his heirs wish to transfer funds amassed in years of graft and venality to a safe bank account in the West. They seek the recipients permission to make use of his or her inconspicuous services for a percentage of the loot - usually many millions of dollars. A fee is required to expedite the proceedings, or to pay taxes, or to bribe officials - they plausibly explain. Is "Earning a Living" Stopping You Every year, people resolve that THIS New Year will be different: "This will be the year that I write that book, start that new venture, double my income, take more time off to spend with my family," and the list goes on and on. However, when people think about pursuing their dreams, they often squash the idea because it doesnt seem practical. Can Your Ideas Really Make You a Millionaire Can Your Ideas Really Make You a Millionaire A Balancing Act: How To Properly Organize Your Checkbook With all the things you have to remember to do on a regular basis, balancing your checkbook doesnt always receive priority. But if you plan ahead and schedule some time for this important task, you will reap the financial rewards. Is Accumulating a Net Worth of $1,000,000 Easy Yes and No After purchasing Anthony Robbins Get The Edge program, I was a bit skeptical that it would provide much value. I can honestly tell you that it has dramatically changed many areas in my life. Many of my new or old goals are finally in clear focus, Ive been taking action on a daily basis and more of my goals are now beginning to become a reality. Anthony Robbins exudes an abundance of energy and shows a sincere enthusiasm to help you get motivated and move towards your own path to success. Reducing Debt Before Its Too Late ... How To Avoid The Pitfalls Of Creeping Debt Reducing debt usually isnt a high priority for people until they have already gotten into trouble with overspending. Using a few basic guidelines, and debt calculations, can help you see when your debt load is getting into the danger zone. Online Travel Statistics The Travel Industry Association of America TIA released their annual Travelers� Use of the Internet study in December 2003. The study shows an increase in the number of people using the internet to research and book travel. Seven Key Tax Deductions for the Self Employed As a sole proprietor, it*s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004. Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements. But you should also meet with your accountant well before the year-end rush to discuss such matters as tax planning, and record keeping for tax deductions. How to start a home business. Do you know that it�s possible for a housewife or a �one-man-show� around the world to start a home business for full time income Search Engine monopoly Ever wondered how one search engine is dominating the entire web. In any business, you have so much stiff competition. Is there any business that you can start that has no competitionWhether you decide to open a restaurant or a real estate company - you are going to have a lot of competition. And picture the competition that you will have - you will have 100s or probably 1000 other people doing the same business. But in search engine competition, you can probably count in your fingers as to how many search engines there are. But still people are hesitant to go into this field. A Few Easy Ways To Take The Headache Out Of Moving Moving from one house to another is always a challenge, but it doesn�t have to be a nightmare.Here are some simple tips on how to get it done with minimal stress and strain. New Bill to Keep Banks out of Real Estate This week Congress introduced a bill titled, "Community Choice in Real Estate Act," to permanently ban banking conglomerates from entering real estate brokerage or property management. This is because some of the larger banking conglomerates have requested permission from the Federal Reserve Board to sell and manage real estate. Pretty much every major organization in the real estate industry is backing the bill against banks in real estate. Mortgage Consumer Bill of Rights This bill of rights was laid out by Franklin Raines, president of Fannie Mae on January 15, 2000. The Mortgage Consumer Bill of Rights is a pledge fof $2 trillion over 10 years to help consumers gain access to home ownership.It also includes an �Open Book� approach to underwriting where customers can see all of the factors that go into evaluating their creditworthiness and the process of applying for a home loan. Shocking Experienced Copywriter Reveals Little-Known Secrets To Closing BIG Ticket Deals! Hogwash! Working With Your Real Estate Attorney Purchasing or selling a home will probably be one of your largest and most important financial transactions.Before signing a contract to purchase or sell a home, both buyer and seller should consult an attorney to assure that the real estate transaction will be handled legally and professionally. Avoiding A Bad Investment Is Easier Than You Might Think The good news is that the danger of getting stuck with a lemon of a house is one of the most easily avoided dangers in the whole universe of personal finance.Prospective homebuyers are protected in many ways, and they can further strengthen their defenses by taking a few simple, commonsensical precautionary steps. Conditions Are Right For Buying The Higher Priced Home You�Ve Always Wanted Higher interest rates and home prices in the past have kept home owners from purchasing larger homes.The current real estate market conditions, however, are encouraging for many home owners who want to �buy up� to higher priced homes with more to offer. Double Your Sales Potential With Double-sided Business Cards Swapping business cards is one of the most basic and common forms of networking in the business world. With something that is so common practice, people often hand out cards blindly while not really thinking about what the card does AFTER you hand it out. Adjustable Rate Mortgages Offer Alternatives For Home Buyers When looking for a mortgage to meet your needs, consider these key questions:Is your income expected to increase in the coming yearsHow long do you plan to live in your new homeAnd, which mortgage will provide the lowest interest rate The 9 Critical Steps To Success In Demolishing Your Money Worries For Good! Articles on How to make money come a dime-a-dozen.How about a fresh, new perspectiveHeres a rather unique, untapped, revolutionary article about the 9 Simple Yet Powerful Steps You can use right now to Demolish Your Money Worries for Good,...for Life,...Forever! |
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