Question:

Why should I get 1 year adjustable rate mortgage (1 year ARM)?

Answer:

Why take a 1 year adjustable rate mortgage (1 year ARM)?

May be you are:

  • an adventurous type of person.
  • looking for a new home every now and then.
  • buying and selling luxurious residential properties while living in them as part of your lifestyle and as a source of income.

If that sounds much as you, then you are probably aware of the pros a one year adjustable rate mortgage (ARM) can offer to you.

One Year ARM Benefits

With a 1 year adjustable rate mortgage (1 year ARM) you get this ultra low introductory rate that allows you to pay minimum cash while living in a great property. The difference between a normal payment and intro payment for a 1 year ARM can be invested either into home improvement to additionally raise house value, or be invested some place else. At the same time living on your own property builds seasoning for you and the lender would not mind that you sell it after 1 year occupancy.

Employing 1 year adjustable rate mortgage (ARM) low payment to bring you additional income and greater lifestyle is not for everyone. If you are doing it, you are probably well-experienced in dealing with all the accounting, financial and tax issues related to short-term mortgage loans.

Another reason to get a 1 year ARM would be if you are severely short on cash now, but you expect your finances to grow substantially within a year, which is a common reason for taking a short-term ARM.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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