Adjustable-Rate Mortgage: Good or Bad Idea as Rates Rise?

Adjustable-rate mortgages are certainly tempting, with their low introductory interest rates.. The good news: An adjustable-rate mortgage, or ARM, isn’t all bad;. Don’t jump from one bad.

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5 risky mortgage types to Avoid. This data indicates that any type of mortgage can be a bad idea for a subprime borrower and that even prime. The 5/1 hybrid adjustable-rate mortgage, also.

If you prefer to get a conventional mortgage not guaranteed by the federal government, you may be able to qualify. But it may be easier to qualify with a government-backed program, so it’s a good idea.

If fixed rates on the conventional 30-year home loan hit 5%-likely to occur in the summer given the recent trend-that’s when more homebuyers will weigh the advantages of an adjustable-rate mortgage.

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Adjustable-Rate Mortgage: Good or Bad Idea as Rates Rise? An adjustable-rate mortgage, with its lower initial interest rate and monthly payment, can seem a.Read more. Five Ways to Get the Best FHA Mortgage Rates.

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Back when I was in the mortgage business-before the Financial Meltdown-I was always puzzled why people would take an adjustable-rate mortgage (ARM) when fixed rate mortgages were so low. Is an adjustable rate mortgage a bad idea now? With mortgage rates still very low, taking an adjustable rate mortgage makes even less sense. Here’s why.

"The bank offers you a lower interest rate to get you in, and when rates adjust, they almost never adjust down. Make sure a house is a blessing and not a curse. Save for a down payment and get a 15-year fixed-rate mortgage and pay it off as soon as you can." The Benefits of Adjustable-Rate Mortgages

One of the key decisions homebuyers and homeowners make is whether to go with a fixed- or adjustable-rate mortgage. Each have benefits and drawbacks, and your budget, housing needs and appetite.

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Switching to a fixed-rate mortgage-or to an adjustable-rate. rates rising, on the other hand, this would be an unwise strategy. Converting to an ARM, which often has a lower monthly payment than a.

Getting an adjustable-rate mortgage, or ARM, in a rising interest rate environment might seem like a bad idea. After all, why would a borrower want a loan that’s susceptible to rate hikes in the.

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