Monday, August 28, 2006

Adjustable Rate Mortgage Loan for Lower Interest Rates

f you are thinking of purchasing a new California home but are worried about making payments, the adjustable rate mortgage or ARM may be just what you need to get started. Although the payment amount changes over time the adjustable rate mortgage offers the lowest initial interest rate. The initial rate on the adjustable rate mortgage is often lower than the fixed rate mortgage. After the initial contracted period, your interest rate and payments will change with a adjustable rate mortgage. Along with a change in payments your loan will balance will decrease. If you find you are dissatisfied with this type of mortgage it is a simple process to change your ARM to a fixed rate mortgage. Contact www.alliedbancorp.com to find the best mortgage option for your new home today.

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