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.

Recommended helpful present and future homeowners links:
Why: Get better interest rates. See how lenders see your FICO score.
Link: Start FICO® Quarterly Monitoring
Why: Find bank foreclosures, HUD homes, VA homes in your area.
Link: Search homes from $10,000 free with trail
Why: Refinance to a fixed rate loan while mortgage rates are still low.
Link:
Why: Because FHA loans are insured by the US Federal Government they have very competitive interest rates and are easier to qualify.
Link:
Link this QnA Print del.icio.us Digg
Was this Mortgage QnA helpful?
Not at all
  • Currently 2.9/5 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:

Common misspellings: mortage and morgage