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ARM 5/25
Moderators: Mortgage-X

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   Types of Loan Programs-> Types of Loan Programs ~ General QuestionsMessage format
 
saclavij
Posted 7/29/2006 10:35 AM (#1236)
Subject: ARM 5/25
I am getting a 6.25% ARM in a second loan. will I be paying to the Principal or not during the first 5 years?

In this hipotetic escenarion, if the Interest Rate raise to 8% in the next 5 years if I want to refinance in that time the rate that I will get will be aprox 8% in all the banks?

It is better an FRM because I am thinking to stay in that home more than 7 years.

Please advise!!

:)
brendo927
Posted 8/1/2006 4:48 PM (#1240 - in reply to #1236)
Subject: RE: ARM 5/25
What is the rate on your second mortgage? You might be able to combine the 1st and 2nd and get better pricing on a 5 year. You will be payin down on the principal as long its not an interest only or neg-am loan like a pay-option loan.
PaulKarsko
Posted 3/7/2007 7:01 PM (#1401 - in reply to #1236)
Subject: RE: ARM 5/25
I have the perfect loan scenario for you. 10 Yr Option Arm based on the COSI index.

If you would like me to research your current situation, please contact me.

Warmest Regards,



Paul Karsko
Mortgage Advisor
Cell: 609-892-3481
Phone: 201-398-7425
Fax: 201-703-6952
pkarsko@mjslending.net
www.mjslending.com


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