Archive for October 3rd, 2008

What is the differences between all these different mortgage terms?

Friday, October 3rd, 2008
Cindy16 asked:


I am looking into different mortgage.
Get very confused by so many different kinds of them.
What are the differences?

If we are planning to get a 300K mortgage, and planning to stay in the house for at least 5 years.
What mortgage might be good for us?

30yr fix
5/1
7/1
why there is 5/1 ARM?? What is the different between all these?

thank u

Jeffrey

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Posted in mortgages | 4 Comments »