Question:

What is the Consumer Handbook on Adjustable Rate Mortgages?

Answer:

The Consumer Handbook on Adjustable Rate Mortgages is published by the Federal Reserve Board to help borrowers better understand the most complex mortgage type - the ARMs.

The Consumer Handbook on Adjustable Rate Mortgages contains answers to common ARM questions such as

  • why do ARMs have so low interest rates;
  • how much can payment increase with an ARM after the adjustment;
  • why should I take an ARM;
  • what is an adjustable rate mortgage.

The Consumer Handbook on Adjustable Rate Mortgages will make clear what ARMs are and what features they have. All ARM components like index, margin, caps and adjustment will be explained. Different types of adjustable rate mortgages such as Neg Am, 5/1, 7/1 ARMs will be discussed, as well as when one could benefit with those ARMs.

ARM prepayment penalties and conversion opportunities will also be included in the Consumer Handbook on Adjustable Rate Mortgages.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 3/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Definitely
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: