MORTGAGE PROGRAMS

HYBRID ARMs (FIXED PERIOD ARMs)

Hybrid ARMs or Fixed period ARMs allow you to secure the interest rate for a certain period of time before the initial interest rate changes. The payments are fixed for the predetermined fixed period. At the end of that period, your interest rate adjusts every year like a regular ARM according to a financial index (that's why some lenders call them 3/1, 5/1, 7/1 and 10/1 ARMs)

Benefits of Hybrid ARMs:

The interest rate is lower than for a 30-year fixed rate loan,
You may qualify for higher loan amount ,
More stability than short term ARMs,
Rates and payments may go down if rates improve .

Warning for Hybrid ARMs:

Potential for high payments if rates go up.

Who should consider a Hybrid ARM:

Buyers who expect their income to rise in the next few years and want a low start rate for now,
Buyers who need a lower initial rate to afford to buy the home they want,
Buyers who like the advantage of a fixed rate even they get it only for a period of time.

Mortgage Programs

FHA Mortgage Loan

VA Mortgage Loan

RHS Mortgage Loan

30-Year Fixed Rate Mortgage

15-Year Fixed Rate Mortgage

Buy Down Mortgage

Balloon Mortgage

Graduated Payment Mortgage

Negative Amortization Loan

Adjustable Rate Mortgage

Convertible Adjustable Loan

Hybrid ARM Loan

Home Equity Loan

Home Equity Line of Credit

Reverse Mortgage

Jumbo Mortgage

Imperfect Credit Mortgage

Foreign National Mortgage


SouthFloridaLender.com and its contents are provided for informational purposes only and should not be construed as a legal or financial advice, or as formation of a broker and client relationship. As the mortgage market continually changes, the information provided can be either outdated or not suitable to your specific financial situation. For this reason, we strongly suggest to consult a mortgage broker, in the person, and discuss your specific needs.
South Florida Lender \| Home Mortgage Process \| Mortgage Program \| Commercial Mortgage Home Mortgage \| Reverse Mortgage \| Home Refinancing \| Mortgage Loans \| Credit Problems Mortgage Broker Help \| Mortgage Prequalify \| Apply For Mortgage \| Mortgage Calculator \| Sitemap Mortgage Rates \| Mortgage terms \| Mortgage FAQ \| Mortgage News \| Mortgage Tools