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Testimonials: Westport, Weston and Norwalk Connecticut home buying, real estate listings, and homes for sale in Fairfield County, CT

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Financing Your Home >The Margin on an ARM

When you are shopping for an Adjustable Rate Mortgage, the important thing to consider is the margin. Each time your loan is adjusted, the new interest rate will be tied to an index of Treasury notes. The margin is the percentage point above that index where your rate will be set.

Let's suppose that you have a one-year ARM with a 2.5 margin. Your initial rate was 7.5%, and during the first year of the loan, the index of 1-year Treasury notes was at 6.25%. The rate for the second year of your loan would be adjusted to 8.75%. With a margin of 2.75, it would increase to 9%. Some lenders offer lower initial rates with higher margins. In this case, the subsequent rates could be higher after the first year, than if you chose a higher initial rate with a lower margin.

If you are confused by the various mortgage offers, ask a professional mortgage broker to sit down with you and show you how it works. Today the rates and different financial possibilities are so variable that it is a good idea to talk to a mortgage broker--they usually know where the best rates can be found.

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Q	What is considered the primary factor distinguishing buyers of prestigious properties from the average home buyer?
A	Financing doesn't worry these buyers; they often put down 40 percent or more or pay cash for a property
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JoEllen Mack, REALTORŽ, real estate agent and broker for Westport, Weston and Norwalk Connecticut home listings, property and land for sale - NUMBER1EXPERT(tm)

JoEllen Mack
Prudential CT Realty
272 Post Road East
Westport, CT 06880
Voice Mail: 203-429-1009
Direct Line: 203-454-3462
Fax: 203-454-2254
Email: jmack@prudentialct.com
I am your Connecticut Connection for "my towns" of Westport, Weston, Fairfield, Wilton, Easton, Norwalk and Stamford in Southwestern Fairfield County. I will help you find the right town and right home for your family. Buying or selling, together we will develop a plan of action unique for you and your timetable, making the Real Estate process as easy, profitable, and enjoyable as possible for you and your family. I am known for my honesty, integrity, and professionalism. My experience as a Top Producer, knowledge of Fairfield County, and genuine concern for clients enables me to consistently exceed my customers expectations. I have the Accredited Buyer Representative (ABR) designation and have earned many professional awards including being among the top 3% of Prudential Real Estate professionals in the nation, but my satisfied customers are my best testimonial. **Prudential Connecticut Realty is an independently owned and operated member of The Prudential Real Estate Affiliates Inc., and Prudential is a service mark of The Prudential Insurance Company of America.

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