"Pam, Bill and Cort Fisher are great agents."
"Pam, Bill and Cort Fisher are great agents. They go beyond what you might expect an agent should do."
-- (Questionnaire respondent)
You have a story to tell about us. You've worked with us, and we've helped you buy or sell a home. We need your feedback. Others need your feedback, too! Please take a moment to fill out this form and tell us how we did... 
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 |
What real estate term was first used in the 19th century and means "a high-flying flag on a ship"?
|
| A |
Skyscraper was first used in the 1880s when office buildings of 10 stories or more were built in Chicago and New York. |
 See More Real Estate Trivia > |
|
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
