Ebook86 pages58 minutes
Watch Your A.R.M.s Should You Get an Adjustable Rate Mortgage?: Financial Freedom, #65
By Joshua King
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About this ebook
Adjustable Rate Mortgages get a bad reputation in the investing community. But do they desire all the hate and discontent?
Yes, yes, they do. For 97% of homebuyers, ARMs are a lousy solution to any problem. They create far more pain than they prevent.
Once the "teaser" rate on an ARM expires, the loan can adjust the interest rate every year. And in some cases, every six months.
Can you imagine your mortgage interest payment shifting every year? It is chaos. In some situations, when investors have cash upfront, an ARM can prove valuable.
However, for the average homebuyer (including myself), ARMs are terrible nightmares waiting to unfold. Stay away and find a different route. Good Luck!
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Watch Your A.R.M.s Should You Get an Adjustable Rate Mortgage? - Joshua King
Table of Contents
MILITARY FAMILY INVESTING | Home of the Free PDF
Watch Your A.R.M.s
Monthly Dividend Tracker Template: Buy on Etsy
All Right Reserved Military Family Investing | 01 Watch Your A.R.M.s: Should You Get an Adjustable Rate Mortgage?
02 40-Year Interest-Only Mortgage
03 Home Buying for the Average Person
Free 49-Page PDF Download ($2.99 Value)
04 How to Buy an Expensive Home Safely
05 Saving for a House Down Payment #6
06 Annuities vs. Dividends
07 Buy, Rehab, Rent, Refinance, Repeat
08 Renting Rooms vs. A Recession
09 Be Extreme Toward Your Dream
Free 42-Page PDF Download ($2.99 Value)
10 The Re-Birth of the Renaissance Person
Try Something New -Free PDF Download
MILITARY FAMILY INVESTING
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Watch Your A.R.M.s
Should You Get an Adjustable Rate Mortgage?
01 Watch Your A.R.M.s: Should You Get an Adjustable Rate Mortgage?
02 40-Year Interest-Only Mortgage
03 Home Buying for the Average Person
04 How to Buy an Expensive Home Safely
05 Saving for a House Down Payment #6
06 Annuities vs. Dividends
07 Buy, Rehab, Rent, Refinance, Repeat
08 Renting Rooms vs. A Recession
09 Be Extreme Toward Your Dream
10 The Re-Birth of the Renaissance Person
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Monthly Dividend Tracker Template: Buy on Etsy
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
All Right Reserved Military Family Investing
01 Watch Your A.R.M.s: Should You Get an Adjustable Rate Mortgage?
When times are tough, thinking outside the box is a good idea. In most cases, we all want a standard fixed-rate 30-Year mortgage.
I talked about new options in "40-Year Interest-Only Mortgage," which proved a bad idea. But do we have more choices with interest rates crossing 7% on new mortgages?
Our old enemy is back, and it is worse than ever. Yes, welcome Adjustable Rate Mortgages to the stage, and hopefully, it exits stage left rather quickly.
Bond Growth Investing: Bonds to the Rescue
Why do Adjustable Rate Mortgages (ARMs) have such a bad name? Can they serve any homebuyers in today’s frosty homebuying climate? Let’s explore ARMs more in-depth.
What are ARMs? For an in-depth definition of adjustable rate mortgages, I will refer you to Rocket Mortgage. If you read the entire article, you can see just how complex ARMs can become over time.
An ARM is a mortgage with a fixed rate for a teaser
period, usually 5, 7, or 10 years. After the initial fixed rate, the mortgage can then change interest rates every year.
Yes, that’s right. It doesn't just adjust once; it can change once every six months or year. Can you imagine this type of madness?
Trade School vs. College vs. The Military
What a ride. If your introductory period ended in the summer of 2021, when rates were around 3%, you would be paying over 7% today.
No matter how sophisticated you are,
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