Friday, September 10, 2010

Why Choose a Fixed Jumbo Mortgage Over a Jumbo ARM?

Why Choose a Fixed Jumbo Mortgage Over a Jumbo ARM?:
"With today’s low interest rates, the fixed jumbo mortgage is around 5.25% with the 5/1 ARM at 4.25%. With not much of a spread between the two, the fixed rate is much more enticing.
It offers safe and stable payments each month as the ARM offers fear of the unknown. Since obtaining a mortgage is one of the most important financial decisions a borrower will ever make, they need to understand what they are getting into, ask questions and get all the facts before signing on the dotted line. A lender is not a financial advisor. Why choose a fixed jumbo mortgage over a Jumbo ARM? Because it’s time to step off the mortgage roller coaster where you don’t know what will happen next and step onto the mortgage merry-go-round, the nice, slow predictable ride."

Read First part of article by clicking title link at top of post!
NOTE: bolds are my addition

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