Sentences with phrase «features of adjustable rate mortgages»

Don't hesitate to contact a First IB Loan Officer if you have questions about the features of our adjustable rate mortgages.

Not exact matches

These days, most of them combine features of a fixed and adjustable - rate mortgage, and these are referred to as «hybrid» loans.

A hybrid mortgage combines some of the features of fixed - rate and adjustable - rate mortgages.

One feature of the expansion of the non ‑ prime market has been the introduction of a wide range of non-traditional mortgage products including: interest only (IO), negative amortizing loans and adjustable - rate mortgages (ARMs).

While many delinquencies have been caused by adjustable rate mortgages for subprime borrowers or with gimmicky features which caused payments to reset to unnaturally high levels, the rise in ten - year Treasury yields is a warning that a broader population of mortgage holders could face higher mortgage rates.

S&P estimated a loss severity of 35 percent on deals backed by mortgage loans with a negative amortization feature while assuming a loss severity of 35 percent for transactions secured by adjustable - rate loans and short - reset hybrid loans with fixed - rate periods of less than five years.

Note: Typically Bank of America adjustable - rate mortgage (ARM) loans feature an initial fixed interest rate period (typically 5, 7 or 10 years) after which the interest rate becomes adjustable annually for the remainder of the loan term.

There are many aspects of an adjustable rate mortgage that consumers should pay attention to, but one feature that demands attention is the caps on interest rates at every juncture in the loan.

This overlooks the problem that many of these larger mortgages also feature adjustable rates that will likely show greater default levels when payments reset higher.

Our mortgage brokers offer free loan comparison quotes for fixed interest, as well as, adjustable rate home equity lines of credit that feature interest only payment options.

Even though HELOCs are adjustable rate mortgages, they have a feature that allows you to fix the rate on a certain portion of the available balance.

If you have been considering refinancing your adjustable rate equity line of credit with a 2nd mortgage that features a fixed interest rate, then you have come to the right site online.

Unlike adjustable rate mortgages, where rates change depending on market conditions, fixed rate mortgages feature interest rates that stay consistent throughout the lifetime of the loan.

Adjustable - rate mortgages feature interest rates that fluctuate according to market conditions throughout the life of the loan.

Adjustable rate mortgage (ARM): This type of loan features an interest rate that fluctuates during the term of the loan in accordance with changes in the index rate, which in turn is determined by current market conditions.

Additionally, borrowers would be provided with a one - page question - and - answer document warning of loan features that may cause risks, such as balloon loans, mortgages with negative amortization and in some instances, adjustable - rate mortgages (ARMs).

Paying for points isn't generally done for an adjustable - rate mortgage, because such loans feature a discount at the beginning of the loan and then later become adjustable.

Consider the peace of mind you obtain by refinancing an adjustable rate mortgage into a mortgage featuring a fixed interest rate.

This simplicity contrasts with the complexity of an adjustable - rate mortgage, which features a changeable interest rate and many variations on loan terms and payments.

Negative amortization only happens with adjustable rate mortgages (ARMs) with certain features, including an initial payment that does not cover the interest due, a feature that is supposed to increase the affordability of the loan.

Also called a fixed - period ARM, these crossbreed loans combine features of fixed - rate and adjustable - rate mortgages.

It is not unusual for loan officers quoting prices to omit fees expressed in dollars, and omitting important features of adjustable - rate mortgages is more the rule than the exception.

Available evidence indicates that some mortgage borrowers may have difficulty understanding or at least recalling details of their mortgage, particularly the terms and features of adjustable - rate mortgages.