Understanding Adjustable Rate Mortgages | 2023

In this informative and comprehensive video, we delve into the world of ARMs, exploring their features, benefits, and potential drawbacks in the current real estate landscape.

As the housing market continues to evolve, ARMs have gained significant attention among homeowners and prospective buyers alike. We start by defining what an Adjustable Rate Mortgage is and how it differs from a fixed-rate mortgage. Understanding the fundamental concepts is crucial for anyone considering this type of loan.

Furthermore, we examine the economic indicators and market trends that could impact ARM borrowers in 2023. With our expert analysis, you'll gain a better understanding of the potential risks and rewards associated with adjustable rate mortgages, enabling you to make informed decisions about your home financing options.

Whether you're a first-time homebuyer, an existing homeowner contemplating refinancing, or simply curious about the evolving landscape of mortgages in 2023, this video is a must-watch. Equip yourself with the knowledge and insights needed to navigate the dynamic world of adjustable rate mortgages and make informed financial decisions.

Don't miss out on this invaluable information!

👉TikTok: @loanwithjen
👉Instagram: @loanwithjen

Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497

📌More Helpful Content:

[nahshondavenport]

I really appreciate you doing this video. I'm about to take my brokers exam in IL and I really didn't understand ARM's to this capacity till I watched your content on this subject. Thank you again. 🤘LetsGo 2024

[cynthialeveque]

ARM products typically have a lifetime cap and you probably should have mentioned something about qualifying rate since it won't probably initial rate.

[youseennothing]

If you had to get a loan today, would you get another 5 or 7 year ARM?

[Gbvandothercovers]

But if you hadn't forgotten that you had a 7 instead of a 10 you could have refinanced, if needed, in year six. If that had happened, would your ARM have been worth it?

[johnavecilla]

I have 2 DSCR loans that adjust 2% every six months. It does have a cap for another 3% increase. It can really be painful. I say stay away from these adjustable loans as we don’t know when rates are coming down.