What Is A Convertible ARM?

Melbourne is a city located in Brevard County, Florida and it is also known to be the second-largest municipality in the county. Having a population of about 80,000 people with a median age ...

The cost of homeownership in the US is often the main concern of first time home buyers. Is it better to own a property or to rent? Is it better to postpone the purchase of a home or the ...

With Washington D.C. and Arlington, VA so close by, there are people who overlook the city of Alexandria, Virginia during their quest to live in some of the most famous cities in the ...

When you think of the city of Miami, what is the first thing that comes to mind? You are probably thinking of their world-class beaches, great year-round weather, and awesome coastal vibes. ...

Located in the Southwest of Florida, the city of Cape Coral is known for its canals and waterfront wonderland. Many people migrate here during winter or settle for a comfortable but active ...

Basement remodels add more beautiful living space and are usually treated like new construction. This means that it increases your home’s assessed value and therefore an increase in ...

You might be asking yourself, what is Raleigh NC? Raleigh is the county seat of Wake County and the capital city of North Carolina. Raleigh NC is a city that covers an area of 143 square ...

Like many other people who have been seeking a life in a gorgeous oceanfront city, turning your gaze towards Boca Raton, Florida is not a surprise. The city has many attributes that attract ...

The assumption that the index value to which the interest rate on an ARM is tied follows the same pattern as in some prior historical period. In meeting their disclosure obligations in ...

The maximum allowable increase in the interest rate on an ARM each time the rate is adjusted. It is usually one or two percentage points. ...

The initial interest rate on an ARM, when it is below the fully indexed rate. ...

A short-term loan, usually from a bank, that 'bridges' the period between the closing of a home purchase and the closing of a home sale. To qualify for a bridge loan, the borrower must have ...

A second mortgage offered at preferential (subsidized) terms to those who qualify. For example, a labor union may offer members who are first-time home buyers a silent second to finance ...

A document that evidences a debt and a promise to repay. A mortgage loan transaction always includes a note evidencing the debt, and a mortgage evidencing the lien on the property. ...

The largest loan size permitted on a particular loan program. For programs where the loan is targeted for sale to Fannie Mae or Freddie Mac, the maximum will be the largest loan ...

The period you must retain a mortgage in order for it to be profitable to pay points to reduce the rate. ...