My mission in real estate is to improve the quality of your life by serving all of your real estate needs. I have not only dedicated myself to serving the needs of my clients, but to constantly improving my performance through education and certification. I grew up in Denton, attended public schools here and have been a REALTORŪ here for 25 years Please Sign Up For The Latest Listings and the Latest Real Estate News
Financing Your Home >Convertible ARMs
Many lenders are offering a type of Adjustable Rate Mortgage which will allow the buyers to convert their ARM to a fixed-rate mortgage without the expense of refinancing. There are several variations of this type of loan, so you should be informed about the various options before you decide on a loan.
Each lender places restrictions on when the ARM can be converted to a fixed-rate loan. Some allow a conversion after the first year of the mortgage, while others allow a change only on the rate adjustment dates. There is usually a fee for converting the mortgage, but it is much less than the cost of refinancing. The rate that you will pay after the conversion may be slightly higher than the going rate for fixed-rate mortgages. A real estate agent can provide you with a list of lenders who offer convertible ARMs, so that you can shop for the one that is best for you.
|
 |
| Q |
Who received the largest land grant ever given to an English subject for only two beaver skins per year?
|
| A |
William Penn, the Quaker leader, received Pennsylvania and Delaware to settle a debt owed his father by King Charles II. |
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERT™ 
