Jacksonville, Orange Park and Clay County Real Estate Online with The Greg Mosley Team

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Financing Your Home >ARMs

Here is a tip for those who are shopping for Adjustable Rate Mortgages (ARMs): the "margin" is almost as important as the initial rate. The margin is the percentage point above the average yields for Treasury notes on which future rate adjustments will be calculated.

Let's compare two hypothetical one-year ARMs. The first may have an initial interest rate of 7% with a 2.5 margin, while the second begins at 6 7/8% with a 2.75 margin. Both loans have rate caps of 2%. Suppose that at the end of the first year of the loan, the average of the one-year Treasury note yield has been 5 1/2%. For each loan, the lenders will add the margin to that 5 1/2% average yield. Thus the interest rate for first loan would increase from 7% to 8%, and the second would go from 6 7/8% to 8 1/4%. While the first ARM had a slightly higher initial rate, it will have lower rates in subsequent years, unless the Treasury note rates increase enough to activate the annual caps on the amount of the increase. There is a wide variance among margins in ARMs offered by competing lenders, and this should be a factor when you decide on your loan.

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Q	Where is the world's largest art gallery?
A	At the Winter Palace and Hermitage in St. Petersburg, Russia, visitors would have to walk 15 miles to see the 322 galleries which house almost 3 million works of art.
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Jacksonville, Orange Park, Fleming Island,Green Cove Springs, Middleburg, Ponte Vedra, Jacksonville Beaches, & all surrounding counties in NORTHEAST FLORIDA...

How much will my home sell for?How much will my payment be?How do I find an agent?Call 904-249-2900email Greg@GregMosley.com