Current Florida Mortgage Rates
Quick Mortgage Definitions / Terms / Facts
What is the 30 Year, 5/5 Intermediate ARM Loan?zionmortgages.com has attracted much attention by providing exclusive loan programs that provide the security of a fixed rate with the lower rate benefits of an ARM. This loan offers a low fixed rate that adjusts once every 5 years during the 30 year term, according to the Five Year Interest Rate Swap, as made available by the Federal Reserve Board. Interest rate adjustments have a 2.25% margin, an annual 2% adjustment cap and a 10% lifetime adjustment cap from the start rate. A lower rate means a lower payment, which allows you to qualify for a larger home.
How do I know what loan program is best for me?
Choosing your loan program can be difficult. After selecting your loan preferences during the application process, your Loan Officer will be happy to provide you a personal consultation to select the loan best suited to your needs.
First Steps to Getting a Mortgage?
Get a Free Credit Report!The first step to getting a mortgage is to know your credit score. Understanding your credit report is a critical part to getting your mortgage. Raise your score while you shop for your home to get the lowest rate at closing, with a few easy steps you can easily raise your score in within a few months.
