The 30 year fixed rate is still hovering around 4%, so why would anyone consider an adjustable rate mortgage? A recent article by Joe Mont of The Street, points out that in certain circumstances, an ARM still makes good financial sense:

• To lower payments further, especially on jumbo loans.
• If they have a job that moves them around every few years.
• If they know that they will be downsizing or moving — after their children finish school, for example — or no longer need the home they are in and that paying the loan off in full over 30 years is not a goal.

No matter what your current financial situation is, it’s important to work with a lender that can counsel you on what makes the best sense for you. At Dragas Mortgage Company, we can work with you one-on-one to make sure the mortgage loan you apply for is the best fit for you.

For a link to the complete article, click here.