Option ARM vs. Fixed Rate Mortgage?

Option ARM vs. Fixed Rate Mortgage?
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Option ARM vs. Fixed Rate MortgageA fixed rate mortgage has the same payment for the entire termof the loan. The Option ARM uses a low initial rate to calculateyour initial minimum monthly payment. Although the interest ratewill increase after 1 to 3 months, your low payment will remainfixed for the entire year. This can produce a much lower monthlypayment than a traditional fixed rate mortgage, or even anadjustable rate mortgage (ARM).
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ARM vs. Fixed Rate Mortgage?

Description : ARM vs. Fixed Rate Mortgage?

Last Answer : ARM vs. Fixed Rate MortgageA fixed rate mortgage has the same payment for the entire termof the loan. An adjustable rate mortgage (ARM) has a rate that canchange, causing your monthly payment to increase ... a fixed rate mortgage to two types ofARMs, a Fully Amortizing ARM and an Interest Only ARM.

Fixed Rate Mortgage vs. Interest Only Mortgage?

Description : Fixed Rate Mortgage vs. Interest Only Mortgage?

Last Answer : Fixed Rate Mortgage vs. Interest Only MortgageA fixed rate mortgage has the same payment for the entire termof the loan. Use this calculator to compare a fixed rate mortgageto Interest Only Mortgage.

What do you guys think about an Adjustable Mortgage Rate (ARM)?

Description : What do you guys think about an Adjustable Mortgage Rate (ARM)?

Last Answer : Be very careful and know inside and out the terms of your ARM. I know people who had loans they thought they could refinance only to learn all they had to do was be late on one payment and their refinance option was voided.

When an ARM (adjustable rate mortgage) adjusts, does only the interest rate change, or is the balance re-amortized for the remaining period?

Description : When an ARM (adjustable rate mortgage) adjusts, does only the interest rate change, or is the balance re-amortized for the remaining period?

Last Answer : ARMs reamortize out to the original length of the contract on the adjustment date. If you make extra principal payments the monthly payments will be reduced to maintain the same maturity date. I knocked over $100 off my monthly payment in the first five years of my mortgage by making extra payments.

How do I obtain the most favorable fixed rate mortgage?

Description : How do I obtain the most favorable fixed rate mortgage?

Last Answer : Ask what the fixed rate interest is for the desired length of loan you are looking for. Some companies will offer a really low interest rate but it is only a 15 year mortgage and not a 30. Check the ... for it. Ask what the fee is and if it is included in the closing cost estimate they gave you.

From the information given below, calculate Debt service coverage Ratio– Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6,000, Debenture Redemption Fund Appropriation of Outstanding Debentures 10%. (A) 4•06 times (B) 5•06 times (C) 6•06 times (D) 7•06 times

Description : From the information given below, calculate Debt service coverage Ratio- Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6 ... . (A) 4 06 times (B) 5 06 times (C) 6 06 times (D) 7 06 times

Last Answer : Answer: 4•06 times

Comparing Mortgage to choose the best option for me..?

Description : Comparing Mortgage to choose the best option for me..?

Last Answer : It depends on how much money you are making. If you can comfortable afford to pay for a 15 year mortgage then you should do this. If you are going to be struggling to make the mortgage payment then you should get a 30 year mortgage.

How can a person lower their FIXED APR monthly mortgage payment?

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Last Answer : answer:Carving out the taxes and insurance does lower your monthly payment, but it doesn't really lower how much money comes out of your checking account overall. So it is really an illusion. Other than what ... the mortgage. I will be curious to see if someone can come up w/ something for you .

What are the current mortgage rates for a 30 year fixed in Dallas?

Description : What are the current mortgage rates for a 30 year fixed in Dallas?

Last Answer : Current mortgage rates for a 30 year fixed in Dallas would be about $ 600.00 a month. If you are in good standing and have credit payments may be less.

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Description : For finding out the bending moment for the arm (spoke) of flywheel the arm is assumed as 1. a cantilever beam fixed at the rim and subjected to tangential force at the hub 2. a simply ... tangential force at the rim 4. a fixed beam fixed at hub and rim and carrying uniformly distributed load

Last Answer : 3. a cantilever hub fixed at the rim and subjected to tangential force at the rim

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Last Answer : The Department of Energy recommends homeowners replace their HVAC system every 10 to 15 years. So check the age of it first. If it's not that old, I recommend it to just repair.

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What should I look out for when I am signing the papers on my new mortgage rate?

Description : What should I look out for when I am signing the papers on my new mortgage rate?

Last Answer : This article was in my local paper yesterday. I've been hearing a lot about this over the past few months. You need to be very careful and ask a lot of questions. Be assertive. YOU are ... . Your tax money, in the form of the National Stimulus Package is what funds the mortgage modification program.

Is an Adjustable Rate Mortgage really as bad as I have been led to believe?

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What is the going rate to have someone negotiate a mortgage modification for you?

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Would today be a good time to lock into an interest rate on my home mortgage? I am getting out of an interest only, variable loan and need to know if now is the time to pull the trigger?

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Description : When to lock in mortgage interest rate?

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