An adjustable-rate mortgage can save money for the right borrower, but only when the initial savings, timeline, and future payment risk all fit the plan.
Most people who apply for mortgages base their decision on how much they can afford while keeping costs low and manageable. Here are some things to consider if you’re looking at a shorter-term financial picture… Fixed Rate vs. ARM The mortgage king is still the plain old 30 year fixed rate. On such a mortgage…