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Some ads show surprisingly low interest rates. Whats the catch?

April 26, 2017Ads catch low interest rates surprisingly

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Some ads show surprisingly low interest rates. Whats the catch?

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Typically, the ads you see are for adjustable rate mortgages(ARMs). These loans offer a low initial interest rate, sometimes for as little as a month, then adjust on a regular basis. This means that the interest rate and the amount of the monthly payment can go up or down.