Call Us Today
for a FREE Custom Rate Quote
877-487-2562

Call Us Today
for a FREE Custom Rate Quote
877-487-2562

Saturday, May 30, 2020
|

Trade Your ARM for a Fixed Rate

By switching to a fixed rate loan, it is possible to reduce your payment and lock in at an attractive rate for as long as you own your home.

In certain markets, one year ARM programs may offer a tempting introductory rate. Most experts recommend avoiding them because you could easily find yourself facing higher payments in the near future when the introductory rate expires.

Keep in mind, there are certain cases where an ARM makes sense. For example, if you are fairly certain you’ll be moving within five years you may consider a five-year ARM. The first five years is at a fixed rate and will start adjusting annually thereafter. You can save money and avoid rising payments with this type of product.

Please keep in mind however, that depending on several factors including amount of closing costs, change in interest rate, increase in loan amount…  if refinancing the existing loan, your total finance charges may be higher over the life of the loan.

Dave Burson | Residential Mortgage Loan Originator
10534 Burke Lake Rd, Fairfax Station, VA 22039
Branch Location:
3045 Marina Bay Dr, #1313, League City, TX 77573

Call today - 1-877-487-2562
NMLS #s 339336 & 339845
www.nmlsconsumeraccess.org

Dave Burson | Residential Mortgage Loan Originator
10534 Burke Lake Rd, Fairfax Station, VA 22039
Branch Location:
3045 Marina Bay Dr, #1313, League City, TX 77573

Call today - 1-877-487-2562
NMLS #s 339336 & 339845
www.nmlsconsumeraccess.org