Blog Archives

Interest Rates & Indexes

Interest Rates & Indexes

Last week I discussed the fully indexed rate (interest rate) on an adjustable rate mortgage (ARM).  I explained how the fully indexed rate equals the index that the note is tied to plus the margin that is determined by the lender.  Understanding the interest rate risks involved with an ARM is critical to making the right decision when it comes to choosing a mortgage product. Read the rest of this entry

Mortgage Loan Products – Part II

Mortgage Loan Products Part II

Last week, I discussed how in today’s mortgage industry there are many different loan products to choose from, and how understanding these products can be vital for particular circumstance within the current economic environment.  I am going to continue my discussion and cover Graduated Payment Mortgages (GPM) as well as the popular Adjustable Rate Mortgages (ARM).    Read the rest of this entry

Can You Answer “YES” To Any of The Following?

Can You Answer “YES” To Any of The Following?

  • Do you have an FHA loan?

While FHA loans are good for people who don’t have much money for a down payment, they become very expensive to hold on to for the full term of the loan.  I have helped many clients with getting out of an FHA loan and into a much lesser expensive conventional loan product.  This results in saving them thousands of dollars from carrying inflated mortgage insurance premiums.