You Could Save Money With A Mortgage Recast | Marimark Mortgage

You Could Save Money With A Mortgage Recast | Marimark Mortgage

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7-Year ARM Mortgage Rates. A seven year mortgage, sometimes called a 7/1 ARM, is designed to give you the stability of fixed payments during the first 7 years of the loan, but also allows you to qualify at and pay at a lower rate of interest for the first five years.

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Homeowners who are considering refinancing their mortgages have one advantage to count on – interest rates remain low. Refinancing from a 30-year or adjustable rate mortgage (ARM) to a lower rate can help consumers save money each month and cut the total amount that goes towards interest payments.

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Mortgage loans come in many varieties. One is the adjustable-rate mortgage, commonly referred to as the ARM. Unlike a fixed-rate mortgage, in which the interest rate is locked in for the life of the loan, an ARM is a mortgage that has an interest rate that changes.

Radian will honor this Quote for 90 days based on the data you provided. This Quote is for Full Documentation loans only. If you did not provide an Automated Underwriting System (AUS) response, this quote is based on an assumed AUS Approve/Eligible response.

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