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What are the advantages of an adjustable rate mortgage ?

April 26, 2017adjustable rate mortgage advantages

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What are the advantages of an adjustable rate mortgage ?

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Depending on the term you choose the interest rtae is typically lower than a fixed rate during the initial term. An adjustable rate be an excellent program to utilize if you know how long you will own the home.

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Generally, Adjustable Rate Mortgages offer lower initial interest rates, allowing for lower monthly mortgage payments. Additionally, since the payment and interest rate are generally lower than fixed rate mortgages, the borrower is usually able to qualify for a larger loan amount.