"Take A Closer Look At Your Adjustable Rate Mortgage"
What is an Adjustable Rate Mortgage?
An adjustable rate mortgage, called an ARM for short, is a mortgage with an interest rate that is linked to an economic index. The interest rate, and your payments, are periodically adjusted up or down as the index changes.
How Much Will My
Adjustable Rate Mortgage Go Up?
1. Get a Copy of Your
Adjustable Rate Rider. It
will be with the paperwork you received at closing, or you can get a copy at
your registry of deeds.
2. Figure out which Index your Adjustable Rate is attached to.
3. In the Ticker Table below, make note of the rate from Index that is attached to
Your Rate.
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FREE 24 Hour Recorded Mortgage Tips 1.800.630.6602 Ext. 101 - When should I Refinance? Ext. 102 - 9 Tips for 1st Time Homebuyers Ext. 103 - Should I Consolidate My Debt? Ext. 104 - Fixed Rate Vs. Adjustable Rate Ext. 201 - Do I need Private Mortgage Insurance? Ext. 202 - What is an FHA Mortgage? Ext. 203 - What are “Points”? How do they work? Ext. 204 - How do I take cash out of my house? |
|
ARM Indexes | ||
|
ARM Index |
Current Rate | Trend |
|
LIBOR 6 Mo. |
5.39% |  |
|
LIBOR 1 Yr. |
5.48% | |
|
Treasury 1 Yr. |
4.98% | |
|
Constant Maturity 1 Yr. |
4.91% | |
|
C.O.F.I |
4.224% | |
|
Prime Rate |
8.25% | |
|
Wednesday, June 13, 2007 | ||
Questions? Call 1-800-600-3007
4. Figure out what Margin your lender has set for you. This will be expressed as a percentage in the Calculation of Change Section. Write it down.
5. Add your Index Rate and Your Margin Rate together.
Use the Calculator BELOW to determine your new Payment on Adjustment Day.
6. Pick A Plan Below and Get Started NOW!
Plan #1: Give Your Info
Here. A Specialist will Contact You.
Plan #2: Call 1-800-600-3007 Now and Talk to a Specialist.
Plan #3: Call 866.500.2FIX to Listen to a Recorded Message.