Home Buying in 27617>Question Details

Sharon Webb, Real Estate Pro in Raleigh, NC

Does an ARM have a new attraction with fixed rates nudging up? I have clients re-visiting their financing options and taking a second look at ARM...

Asked by Sharon Webb, Raleigh, NC Mon Aug 26, 2013

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Definitely this loan is back in the mix, especially with ARMS possible up to 10 years
0 votes Thank Flag Link Tue Aug 27, 2013
ARMS are always a good option for Buyers to consider for those who believe their only going to be in the property for 5-7 years (which is statistically likely for the majority of buyers) If your clients beleive this is likely their time horizon then a 7 year ARM would be an excellent option.
0 votes Thank Flag Link Tue Aug 27, 2013
Larry, definitely. It's always part of my discussion with customers and a strategy I follow with my own financing. I look forward to talking strategy with you when we meet. Looking forward to meeting you. -Rick
Flag Tue Aug 27, 2013
only if the buyer/borrower is moving in 3-7 yrs. if you ask me.

Interest rates are still at historic lows and while many buyers have been spooked in the short run; a good night's sleep will allow them to clear their head so they can awaken to lock a super low rate and fix their housing payment for a very long time.
0 votes Thank Flag Link Mon Aug 26, 2013
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