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Saving For a Down Payment on a House

A traditional mortgage generally requires the buyer to place a down payment of 20% of the purchase price, but with recent changes lenders have made it […]

How to Find a Down Payment to Buy a Home

12 Ways to Find a Down Payment Home ownership in America has increased from 25% in the early 1900s to 67% at the end of that […]

The top 10 things you need to know when buying a home

1. Don’t buy if you can’t stay put. If you can’t commit to remaining in one place for at least a few years, then owning is […]

Glossary

Adjustable-rate mortgage (ARM) A mortgage that does not have a fixed interest rate. The rate changes during the life of the loan in line with movements […]

What should I keep in mind when it comes to an I-O mortgage payment or a payment- option ARM?

Both types of loans can be flexible and allow you to make lower monthly payments during the first few years of the loan. You can repay […]

Does the type of loan and loan payment plan make much difference?

Yes. . . for both the growth of your investment in your home and the amount of your monthly payments during the term of the loan. […]

What are some important target dates in an I-O mortgage or a payment-option ARM?

• Introductory period. Many option ARMs have a 1-month or 3-month introductory period at the beginning of the loan. During this period, lenders use a […]

What are the alternatives to I-O mortgage payments and payment-option ARMs?

If you are not sure that an I-O mortgage payment or a payment-option ARM makes sense for you, there are several other alternatives you could consider. […]

When might an I-O mortgage payment or a payment-option ARM not make sense?

Interest-only or option-ARM minimum payments may be risky if you won’t be able to afford the higher monthly payments in the future. For example, suppose you […]

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