Introduction     Mistake #1      Mistake #2      Mistake #3      Mistake #4      Mistake #5
Mistake #6      Mistake #7      Mistake #8      Mistake #9      Mistake #10 


Mistake #5

The fifth mistake.

5. Not carefully evaluating whether a fixed or adjustable rate is best for you and your situation!

Adjustable Rate Mortgage
vs.
Fixed Rate Mortgage

Everyone wrestles this subject.

It all depends on your situation. Check this out:

  • If rates are on the decline.

  • If you plan to sell, refinance or pay the loan off in the next few years.

  • If your income is on the increase.

  • If your current monthly cash flow is more important then the future 2-5 years from now.

Then an adjustable rate mortgage may be right for you.

It is important to note that there are many types of adjustable rate mortgages. Some of them can devastate your finances, so make sure that you understand and read the fine print before you sign on the dotted line.

What to do?

If you choose a fixed rate when a lower rate adjustable is right, based on your situation, then you are wasting your hard-earned money. However, if you choose an adjustable when the market and your situation demand a fixed rate, then the results could mean a financial disaster. This is no time to go it alone!

Let us help you make the right choice!

Email us or Call us at 303-771-1320 or APPLY ON LINE NOW!

NEXT MISTAKE (#6)...

 

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