| a hybrid and a traditional ARM THE dominant loan product in today's marketplace. They are often packaged as the colorado mortgage law ARM or the 2/28 ARM (most popular products). The loan is a "Hybrid" because a true ARM adjusts for the same periods for the life of the loan, ie. colorado mortgage law 6 Month ARM is fixed for the first six months and adjusts every six months afterwards. The 2/28 "Hybrid ARM" is a 6 month ARM that the borrower has purchased a "Rate Lock" or introductory rate for the first 2 years (this is also done in 3,5,7 year fixed periods), and then the loan becomes a 6 month ARM thereafter, colorado mortgage law than a loan that does only adjust every 2 years. The benefits This loan product has actually lowered the costs of borrowing colorado mortgage law the early years of loans, but certainly is a source of continuing refinance business to the Mortgage industry. They let borrowers take advantage of special pricing, by saving money on payments when the borrower's |
 |
yahoo! Amazon.com Amazon.com mortgage cnn.com |
colorado mortgage law - domain.com
