Planning on Staying a While? Avoid ARMs
ARMs are not
usually a smart option for people who have limited income and plan on staying
in their home for many years.
A borrower that
has limited assets or a high debt to income ratio should also avoid ARMs. A good rule is that if you cannot afford the
house without the ARM, then you should not get the house. An ARM is a shared risk between the lender and the borrower. If you
cannot risk it – then an ARM is not a good option.
The Easterbrook
Team
916.850.6050
"We Make
the Loan Process Easy!"
No comments:
Post a Comment