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Real Estate Tips
Financing Your Home >More On ARMs

Lenders are always looking for new ways to help buyers get into the home of their dreams. Today they frequently use adjustable rate mortgages (ARMs) to increase the buyer's options. The interest rate on an ARM changes periodically to reflect changes in the national market. Since the loan starts at a rate that is lower than the national average, lenders can reduce the borrower's qualifying criteria.

One way to distinguish between different ARMs is by the national index to which they are tied. Some ARMs are tied to a slow-moving index called the cost-of-funds index; these are usually the most desirable. ARMs that are tied to a more volatile index, such as Treasury Notes, can be adjusted upward at a quicker rate. Look at all the factors before choosing a loan. The faster index loan may start out with lower rates and lower monthly payments, but the slower index ARM may eliminate your concern about having to re-finance down the road.

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Real Estate Trivia
Q 
What is the world's oldest wooden structure?

A 
The oldest wooden buildings are the Pagoda, Chumanar Gate and Temple of Horyu in Nara, Japan, dating from A.D. 670.
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The Fast Sinclair Home Selling Team, REALTORŪ, real estate agents and broker for Carmel, Fishers and Westfield Indiana home listings, property and land for sale - NUMBER1EXPERT(tm)

The Fast Sinclair Home Selling Team
Keller Williams Realty

11711 N. Meridian, Suite 100
Carmel, IN 46032
Beverly direct: 317 846-FAST (3278)
Toll Free: 888-456-FAST (3278)
Cell: 317-213-FAST (3278)
Fax: 317 846-5959
RaeJean Cell: 317-710-7488
Email: Fast@IndyHouseFinder.com

I am co-owner of Keller Williams Realty, Indianapolis Metro North. I have my CRS and GRI designations, as well as being a graduate of the Real Estate Academy of Leadership. I was rookie of the year for Graves Real Estate in 1992 and then worked for Century 21 for 10 years. I was a 7-time centurion, achieving the "hall of fame" award and selling over $20 million my last year with them. Although I'm a native Texan, born in Dallas and raised in Ft. Worth, I met my Hoosier husband while I was the Director of Music at Reese Air Force base in Lubbock. As a singer and composer, I have enjoyed working with and for the public and have been inducted into the International "Who's Who" in music. I have taught music at both Texas University and Texas Tech., where I received a Masters and Ph.D. respectively. I bring these creative, people skills to my career in real estate.

CRSGRIREALTORRELO



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