Understanding Benefits of Adjustable Rate Mortgage LoansBy Karen Lawson
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In certain circumstances, it makes good sense to consider an ARM loan. If you anticipate moving on or moving up before the payments will increase, an ARM can help you gain the benefits of homeownership such as the potential for building home equity. It's a good idea to prepare a list of questions before shopping for a new home loan.
Look before You Leap: Learning about Mortgage LoansGetting some solid advice before you start looking for a new home loan can help you avoid shaky financial ground later. Mortgage loan documents serve as a contract between you and your lender. If you don't understand the terms of your new home loan, trouble can quickly develop when interest rates increase or a balloon payment comes due.
About the Author
Karen Lawson is a freelance writer with more than fifteen years of experience in mortgage banking. She holds BA and MA degrees in English from the University of Nevada, Reno.
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