Creative Mortgage Solutions

FHA Mortgage / VA mortgage Facts- ARM’s

Why I consider the 5/1 adjustable rate FHA mortgage and VA mortgage the best mortgages to have right now.

The average life of a mortgage is less than 5 years. A 5/1 adjustable rate mortgage is fixed for the first 5 years.

1)      You get a much better starting rate. Right now (October 19, 2009) you can easily get in the low 4% range.

2)      After the first 5 years the FHA mortgage / VA mortgage can adjust 1 point up or down. Given current market conditions, in the 6^th year, if you started at 4.25% you would adjust down to 3.25%. That’s right 3.25% on a 30 year mortgage.

3)      ALL other adjustable mortgages can adjust 5 or 6% in the 5^th year. Only the FHA mortgage / VA mortgage limits the adjustment to a single point.

4)      This loan over time will have significantly less interest paid.

Every mortgage loan is very important to me, so I handle each one personally. My background includes extensive knowledge of the real estate market, real estate finance and personal taxation. If you are looking to refinance or purchase real estate please give me a call or email. I will be happy to discuss all options with you. Currently I have access to 70+ lenders. I have access to 4 different credit repair agencies. My goal is to become your lifetime lender. thefhaloanguy@aol.com

This entry was posted on Monday, October 19th, 2009 at 2:24 pm and is filed under FHA Mortgage, Homes for Sale Everett, VA mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.