Refinancing Your Home - Low Rates?
by Nancy Woodward
When you see this advertised - Finance your home at very low rates - take care. You need to really understand the information you are given.
Is this a loan with fixed interest rates or an arm with adjustable rates? Do you consistently pay the same amount or will that flucuate depending on other factors? Can you pay off the loan in advance or are there penalties for this?
You don't want to find yourself with payments that have skyrocketed you can't afford or balloon payments that come due and you don't have the funds.
Just do your due dilligence, ask a friend, an attorney, family members. Find someone knowledgeable to help you.
When you see this advertised - Finance your home at very low rates - take care. You need to really understand the information you are given.
Is this a loan with fixed interest rates or an arm with adjustable rates? Do you consistently pay the same amount or will that flucuate depending on other factors? Can you pay off the loan in advance or are there penalties for this?
You don't want to find yourself with payments that have skyrocketed you can't afford or balloon payments that come due and you don't have the funds.
Just do your due dilligence, ask a friend, an attorney, family members. Find someone knowledgeable to help you.
Labels: adjustable rates, arm, fixed rates, interest rates, refinance
posted by Nan at 12:47 PM
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