Know Your Financing Options

Financing is an important part of the home buying process for the majority of purchasers. Interest rates on fixed-rate mortgages have risen over recent weeks and this increase has made adjustable-rate mortgages very tempting for buyers as they typically come with a lower interest rate in the beginning years of the loan. The New York Times recently had a great article about adjustable rate mortgages. When purchasing a home it is best to know all of your financing options and the article linked below is an excellent resource. It defines adjustable rate mortgages, or ARMs, and gives consumers the pros and cons when deciding between an adjustable-rate or fixed-rate loan. Check out the link and give 787 Realty a call for more information about Austin, Texas real estate.

http://www.nytimes.com/2013/08/25/realestate/the-siren-call-of-the-adjustable-rate-loan.html?pagewanted=all