Lisa Patterson, Tx Realtor
POSTED 16 HOURS AGO BY LISA PATTERSON, TX REALTOR
Adjustable-rate mortgages (ARMs) can offer lower upfront payments. That’s why more buyers are giving them a second look these days. But with an ARM, once the fixed period ends, your rate can change – which means your monthly payment will too. And there’s a chance it goes up. So, you need to be financially prepared for that. And just in case the 2008 crash comes to mind when you think of ARMs, know this: today’s ARMs are different. Lending standards are tighter now. If you think an ARM might be right for you, make sure to talk with a lender to understand your options and assess your risk tolerance. #AdjustableRateMortgage #Homebuying