Hello,

We wanted to inform you that ARMS are very competitive again, with rates as low as 3.25%.  There are definite situations that can greatly benefit from these products. Having the right knowledge and knowing how to use them correctly is the key.

• Selling in 3-5 years
• looking for cash flow every month
• refinancing in 3-5 years

If you think that you may fall into one of these categories, please feel free to give us a call and we would be more than happy to discuss your options and give you some professional feedback on whether it is right for you. 

Just look at the difference

        30 year fixed:                              5/1 ARM

• $200,000                                      $200,000     Loan Amount
• 5.375%                                        3.5%           Interest Rate
• $1,120                                         $899           Monthly P&I Payment

$221/ month Savings, which equates to $13,260 of cash flow over 5 years

Mortgage Tip for July 2009:

Get a leg up on the competition by getting pre-approved for a mortgage. Sellers won't have to worry about being burned by an offer you can't afford, and because you have already completed the necessary loan steps, you'll save time at the closing.