Adjustable-rate mortgages (or ARM loans) get a bad rap in part because they fueled the subprime mortgage crisis in 2008 and 2009 (90% of subprime loans during this time were adjustable-rate loans). But they’re not all bad.
Believe it or not, adjustable-rate mortgages can be a good choice for some types of home buyers. Here’s what you need to know about adjustable-rate mortgages when you’re shopping for a home loan. Continue reading “What You Should Know About Adjustable-rate Mortgages”