A LIBOR ARM may be for you if you:
- are looking to minimize your monthly payment.
- are seeking to lower your interest rate and monthly cash flow.
- want to take advantage of the equity in your home. This is a good refinance program for those who want to consolidate consumer debt such as credit cards.
Any ARM is a good idea if:
- ARM interest levels are significantly below fixed-rate interest charges.
- you anticipate a higher income in the future.
- you won't be staying the the house for more than five years (especially if you have a locked-in rate for the first three, five, or seven years).
ARMs are NOT a good idea if:
- initial rates are comparable to fixed-rate loan rates.
- high closing costs offset the low interest rate.
You can find out a lot more about Adjustable Rate Mortgages and LIBOR ARM's by contacting:
This is for informational purposes only and should not be relied upon by you. RE/MAX Metro is not a mortgage lender. Contact Veritas Funding directly to learn more about its mortgage products and your eligibility for such products. Information is subject to change without notice. This is not an offer for extensions of credit or a commitment to lent. Veritas Funding, NMLS# 252108.
