close
qualified member of REALTOR, buying property in the Colorado Springs area due to a military move, relocation, or simply looking for a new home, living in CO springs, home search, building a home, offer military discounts home purchase find in Colorado, new home construction
Top Panel
                                           Also serving: Fountain, Black Forest, Falcon, Monument, Security, Widefield, Woodland Park and the surrounding areas.
military rebates1

Selling A Home Advice- quick links

Buying A Home Advice- quick links

Real Estate Advice- quick links

Mortgage Calculator

Loan amount:

(Use "." for Decimals)
Duration:
years
Interest rate:
%
Monthly repayments:
$
Total to be re-paid:
$
Help
Tell me more about ARMs?
Adjustable-rate mortgages "are tied to an index which is a measure of the lender's cost of borrowing money. As the index rises, so will the interest rate on the adjustable loan," according to Dian Hymer, author of "Buying and Selling a Home, A Complete Guide," Chronicle Books, San Francisco; 1994. v Common indexes include Treasury Securities (T- Bills), Certificates of Deposit (CDs), and Libor (London inter- bank offering rate). Most metropolitan newspapers publish current ARM index rates.
The interest rate and payment adjustments may or may not be scheduled to change at the same time. For example, the interest rate on some plans changes more frequently than the monthly payment, which may result in negative amortization. "This means that the additional interest will be added to the principal balance of the loan and may accrue additional interest itself," Hymer says. If the monthly payments on an ARM are increasing, generally this is because the index is rising or it is a negative amortization ARM.

People with adjustable-rate mortgages wanting to know how their payments are calculated might contact their lender or review the language in their loan agreement.
 

Real-Estate Resource Guides

re advice resourceReal-Estate
What to do and what not to do when buying and selling property.		 buying resource- largeBuying
Kathy Warden will help you with every step of the buying process.		 acceptSelling
Online or in person Aspen Realty is here to help.

School Information

school info iconOne of the most important factors a family has to consider when relocating. Dramatically reduce your research with Kathy Warden's help, president of Aspen Realty.

Community Profiles

community info iconRelocating from out-of-state or from within Colorado? Aspen Realty is your expert leader in not only finding your new home but helping you learn more about your new neighborhood.

Property Search

home search iconAspen Realty will help you find the perfect home and navigate you through the maze of uncertainties with buying and selling. MLS Search | My Listings | Contact Me

Free Reports

report icon>10 important tips to successful real estate investing
>Seven selling mistakes you don't want to make!
>5 secrets to buying the best house for your money many more...