JUPITER MORTGAGE » Fixed

ARM vs. Fixed mortgage lesson (allmortgageadvice.com)

Sun, 05 Feb 2012 19:04:44 +0000

Pros, cons, info, advice about fixed and variable residential mortgage loans from (allmortgageadvice.com

Real Estate News “What Is A Fixed Rate Mortgage” (850)297-9242

Mon, 23 Jan 2012 19:03:59 +0000

Visit www.1stchoicefamily.com “Home of the ARC Loan” The Automatic Rate Cut (ARC) loan is the last loan you will ever need. It adjusts down, as rates go down, and won’t go back up! * Purchase or Refinance * Rates adjust down with market rates * Rates do not go up * Home Affordable Refinance * No Closing Cost Loans The ARC Loan is an amazing mortgage product, taking away any need for you to waste thousands of dollars on numerous refinances and start-over amortization setbacks. www.1stchoicefamily.com

Fixed rate or Variable Etobicoke Mortgages

Sat, 12 Nov 2011 19:03:46 +0000

Etobicoke mortgage broker Mike Schofield explains the benifits of fixed rate and variable rate mortgages.

Fixed Rate Mortgage Refinance Rates: Get Five Unique Quotes!

Wed, 06 Jul 2011 07:05:15 +0000

www.HomeMortgage.com Do you want to buy real estate and find fixed rate mortgage refinance options? HomeMortgage.com provides mortgage borrowers with tools to help you find low interest mortgage rates. Indeed, HomeMortgage.com wants to help you feel at home with your loan by supplying five unique fixed rate mortgage refinance options — for free! Visit www.HomeMortgage.com and see!

25 year Conv fixed has a lower monthly payment than a 30 year FHA fixed

Wed, 04 May 2011 19:02:31 +0000

Purchasing a home with FHA financing? Doing a 30 year fixed loan? I will show you how you can purchase a home with a 25 year Conventional loan with Financed Up-Front Mortgage Insurance and the payment will be less than your 30 year fixed FHA.

Jefferies Enhances Fixed Income Rates Business

Tue, 26 Apr 2011 19:09:11 +0000

Jefferies Enhances Fixed Income Rates Business
NEW YORK–(BUSINESS WIRE)–In the continued development of the firm’s Fixed Income Division, Jefferies today announced the appointment of Daniel A. Brierley as a Senior Vice President and Trader within the firm’s Rates business. In a joint statement, Christopher Bury and Dan Markaity, Co-Heads of Jefferies’ Global Fixed Income Rates Business, commented, “We are pleased to welcome Daniel to …

Can Getting a Fixed Mortgage Rate Really Save You Money?

Sat, 08 Jan 2011 19:03:49 +0000

Can Getting a Fixed Mortgage Rate Really Save You Money?

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Home Page > Finance > Mortgage > Can Getting a Fixed Mortgage Rate Really Save You Money?

Can Getting a Fixed Mortgage Rate Really Save You Money?

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Posted: Nov 05, 2009 |Comments: 0
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The foreclosure boom created by the economic downturn has left many homeowners and potential homeowners feeling as though adjustable rate mortgages are evil. However, there has been a great deal of debate on whether or not fixed rate mortgages really save you money. The big fixed rate draw is that you know how much your payments will be throughout the life of the loan, in other words there will be no surprises. Still, having peace of mind and saving money are two different aspects of fixed rate mortgages. If you are considering a fixed rate mortgage there are few things you need to consider when determining whether or not you will be saving money.

The first question to ask yourself is what rate are you looking to lock in, or what is your target rate? The rate you start off at will be the determining factor on whether or not you are able to save money with a fixed mortgage. If you are starting at a rate of 5.3% and your initial monthly payments are more than 60% of your monthly income(s) the odds are you have started off with one foot in the ground. Since, you are not leaving yourself any room to save money. Homeownership is expensive and the first year is often plagued with costly repairs, taxes, and insurance. So, the idea is to get the lowest rate upfront. Although, it is only fair to point out that fixed rates are set usually set higher than those of initial adjustable mortgage rates.

And, you may still wind up with a higher rate than the market rate.

Will there be any other fees or costs that will have a bearing on your payments? Although fixed rate mortgages are not affected by rising interest rates keeping payments constant, there is a chance that you could still end up paying more for your home. The costs of homeowner’s insurances, private mortgage insurance (PMI), and taxes are usually tied to your overall mortgage payment and the costs of insurance and taxes can and usually does rise over the time of the loan. These are aspects of fixed mortgages that are often afterthoughts when homeowners are looking to lock in a fixed rate.

How long do you plan to be in the home? Fixed rates are great long term loans. However, if you are not ready to settle in a particular area for at least 10 to 15 years, then fixed rates mortgages may do more harm than good. Homeowners with fixed rates, who decide to sell their home often, find themselves selling the home for less than what is owed on the loan when the market is down. If you are not planning to be in the home for at least 10 years odds are good you will end up loosing money in the long run.

Finally, are you really going to budget wisely? Again, the major advantage to fixed rate mortgages is the peace of mind in knowing that interest rates will not cause your monthly payments to increase. Theoretically, this feature gives homeowners the opportunity to budget wisely. However, most people don’t follow a budget until they have no other choice. And it should be noted that budgeting doesn’t necessarily lead to saving money. Knowing how much your payment will be each month will not change your income and what you are able to put aside for a rainy day. It simply shows you where the majority of your money is going.

Adjustable rate mortgages have been painted as the enemy, but in reality these mortgage rates offer a flexibility that fixed rates do not allow. There is no doubt that fixed rate mortgages offer a peace of mind that adjustable rate mortgages just cannot provide. Still, having a budget and saving money is totally different. So, you may want to really weigh all options before deciding on a fixed rate, especially if you are attempting to save money.

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Allan Young is a freelance writer who writes about mortgage rates.

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30-Year Fixed Rate Down Slightly From Six-Month High Set Last Week; Current 30-Year Fixed Rate is 4.68, According to …

Wed, 22 Dec 2010 19:05:25 +0000

30-Year Fixed Rate Down Slightly From Six-Month High Set Last Week; Current 30-Year Fixed Rate is 4.68, According to …
10 a.m. Pacific–SEATTLE–The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.68 percent, down three basis points from 4.71 percent at this same time last week. The 30-year fixed mortgage rate peaked on Thursday at 4.9 percent, declined steadily through Saturday and then hovered near 4.7 percent for the remainder…

Mortgage Rates Mostly Fall This Week; 30-Year Fixed At 5.06%

Thu, 25 Nov 2010 05:06:41 +0000

Mortgage Rates Mostly Fall This Week; 30-Year Fixed At 5.06%
Mortgage rates mostly fell in the past week, with 30-year fixed-rate mortgages edging lower toward 5%, according to a survey by Freddie Mac (FRE).

The Truth about Fixed Rate Reverse Mortgages

Wed, 17 Nov 2010 19:04:28 +0000

The Truth about Fixed Rate Reverse Mortgages

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Home Page > Finance > Mortgage > The Truth about Fixed Rate Reverse Mortgages

The Truth about Fixed Rate Reverse Mortgages

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Posted: Sep 30, 2009 |Comments: 0

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The Truth about Fixed Rate Reverse Mortgages

By: Troy Shellhammer

About the Author

Receive a Fixed Rate: Reverse Mortgage

More Help: Reverse Mortgage Lenders

Troy Shellhammer is an expert and writer in the Reverse Mortgage Industry. Call him at 1-888-973-8377 with any questions.

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Article Source: http://www.articlesbase.com/ – The Truth about Fixed Rate Reverse Mortgages

There is a new trend in Reverse Mortgages today. The Fixed Rate HECM is now an established product and is becoming one the most popular products in the industry. The Fixed Rate Reverse Mortgage is a great product but it does have some important differences from the standard adjustable rate Reverse Mortgage that we will discuss in this article. Knowing these differences is crucial to make sure your next Reverse Mortgage is the most efficient and the most satisfying for you and your family.

Actually, the differences in the adjustable rate HECM and the Fixed Rate HECM are very slight. Both products are guaranteed and regulated the Federal Government through the Department of Housing and Urban Development, or HUD. Both products are non-recourse loans, which means that should the balance of the Reverse Mortgage somehow become more than the value of the home, neither you nor your heirs will be liable for the difference. The Reverse Mortgage is a loan that is only based on the value of the home and none of your other assets, estate, or investments. Both loans have no credit, income, or health requirements. The only qualifications you must meet are that you over the age of 62, and that you own your home.

Now, obviously the major difference in the two products is that the Fixed Rate Reverse Mortgage’s interest rate is fixed for the life of the loan, while the other HECMs’ rates are adjustable through a variety of indices. The Fixed Rate is currently at 5.56% and if you obtain a Reverse Mortgage at this time, the rate will remain fixed at that rate for the entire life of the loan. The rate could change in the near future, but so far, the rate has been steady and is extremely low.

The other major difference in this product compared to the adjustable rate mortgages, is the way that you may receive the funds. In an adjustable rate HECM, you may receive your funds in a full lump sum, a monthly payment amount, a line of credit, or a combination of the three. The Fixed Rate product is restricted to only the full lump sum distribution method. This is not important if the bulk of the Reverse Mortgage funds will go toward a satisfaction of a current mortgage or debt. This is due to the fact that currently, the fixed rate Reverse Mortgage is usually going to be the best performing Reverse Mortgage. It will give you the most funds possible with the same about on closing costs.

When rates stabilize and future interest rates give lower to the point where the adjustable rate product becomes feasible again, then the choice will be yours as to which product will best benefit you. However, knowing the requirement of the fixed rate HECM’s disbursement, you can now make an accurate and informed decision exactly when to obtain your Reverse Mortgage.

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Troy Shellhammer -
About the Author:

Receive a Fixed Rate: Reverse Mortgage

More Help: Reverse Mortgage Lenders

Troy Shellhammer is an expert and writer in the Reverse Mortgage Industry. Call him at 1-888-973-8377 with any questions.

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