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7/1 ARM Means Stability and Low Rates

July 27, 2011

From Sandie Tate

Homebuyers are looking for stability, yet they want to find a great deal. Do they want the assurance of a steady, fixed rate mortgage that’s locked in?  Or, do they want the lowest rate they can find, often found in an adjustable rate mortgage (ARM)?

Our new 7/1 ARM gives your buyers the best of both, a rate that’s fixed for 7 years, and one that’s lower than most 30-year fixed rates! Right now, rates are in the 3’s!

Plus, because the 7/1 ARM is a portfolio product, which is an in-house investment, we can offer your customers more flexibility with rates, terms, and underwriting.

Who might benefit from a 7/1 ARM?

  • Buyers who plan to move or refinance within 7 years
  • Those who want a lower starting payment now, and anticipate increased income in the future.
  • Buyers who recently had their house on the market but now want to remain in the home and refinance into a lower rate or receive cash out.
  • Buyers with non-traditional credit.
  • Those who want to deal with a local bank instead of multiple servicers.

ARMs continue to be a wise financial choice for many buyers.

Stability, lower rates, flexible underwriting, local servicing. 

These are just a few of the reasons the 7/1 ARM may be right for your customers. Talk to them about it, or contact your loan officer for more details or ideas for marketing the 7/1 ARM!

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