Hybrid Mortgages in Virginia
A choice between fixed and adjustable mortgage rates may often leave you
confused.
Both may have the same advantages and disadvantages.
If you find
yourself in such a predicament, you can opt for Hybrid mortgages.
A hybrid...
More
Hybrid Mortgages in Virginia
A choice between fixed and adjustable mortgage rates may often leave you
confused.
Both may have the same advantages and disadvantages.
If you find
yourself in such a predicament, you can opt for Hybrid mortgages.
A hybrid
mortgage is a middle of the path mortgage.
It can help you get the best of both
adjustable and fixed mortgage rates.
So, while on the one hand it may save you
from the confusion of which mortgage to choose, on the other it helps you derive
maximum benefitof all the available mortgage schemes.
What is a hybrid mortgage?
A hybrid ARM, as the name suggests, is a mixture of fixed and adjustable rates.
It is a mortgage loan that initially comes with a fixed interest rate for a stipulated
time.
After the fixed time is covered, the loan gets converted to an adjustable
rate.
Virginia mortgage lenders offer a lower initial fixed rate on a hybrid ARM.
However, this rate depends on the duration of the term.
The shorter the initial
fixed-r
Less
