Why You Should Consider an Adjustable Rate Mortgage in Florida
Oftentimes people hear “adjustable-rate” and think, “No way. I can’t have my interest rate changing all the time!” But once you understand what an ARM is and how it works, you may realize that it’s the perfect product for your current situation.
Some of the pain points that can squash the dream of purchasing a home are:
- Unaffordable interest rates for fixed-rate mortgages
- Monthly mortgage payments that exceed debt-to-income
- Excessive monthly income tied up in housing expenses
The advantages of using an adjustable rate mortgage in Fort Myers, Florida are:
- Lower initial interest rate
- Lower initial monthly payment
- Interest rate changes at intervals, so no need to refinance if rates drop
- As rates drop, your monthly payment can drop
- Frees up more of your cash
The professionals at Fort Myers Mortgage Experts are not going to get you into an Adjustable Rate Mortgage just to close the deal, but because it is the RIGHT deal to close for you.
Who Should Consider Getting an Adjustable Rate Mortgage in Florida?
An ARM is not for everyone, but for some, it can be a very useful and lucrative loan product. At Fort Myers Mortgage Experts, our focus is on matching your needs with the ideal loan product. That’s the DiGregorio Difference. We’ll review your current situation and needs, and discuss if you’re a good candidate for loan options like an adjustable-rate mortgage, sometimes referred to as a Variable Rate Mortgage.
You may want to consider an ARM if:
- You only plan to be in the home for a few years
- Trends are indicating that interest rates will decrease over the next few years
- You want to use more of your current income for higher-yield investments
ARMs can work great for starter homes, particularly for singles or new families who plan to upgrade within 2-5 years. The lower total cost can allow them to save more for a down payment on their next home.
Contact Fort Myers Mortgage Experts for Your Free Quote on an Adjustable Rate Mortgage in Fort Myers, Florida
There’s no time like today to start making plans for your future, and that includes finding the perfect mortgage for the perfect home. Contact Fort Myers Mortgage Experts today and let us be your guide. Whether first-time home buyer or experienced investor, we have the skills, knowledge, and experience to help.