Compare Mortgage Quotes

jonunderwood007 · Joined: 03 Sep 2009 Posts: 38 -0.40 Dollars($)

what is two-step mortgage

nelsoncarolyn1946 · Joined: 03 Sep 2009 Posts: 38 0.00 Dollars($)

two-step mortgage is an adjustable rate mortgage which has one interest rate for the first part of the mortgage and a different interest rate for the remainder of the mortgage.

savior70 · Posted: Fri Sep 04, 2009 4:45 am Post subject:

Hi,

An adjustable rate mortgage or ARM is at times referred to as a two-step loan. The ARMs usually offer a low interest rate at the initial period of the loan term, generally for 7-10 years. Once that period is over, the mortgage interest rate adjusts for the rest of the loan term. Since the interest rate on this type of mortgages adjusts in two different stages, they are often called two-step mortgages.

catharin9 · Joined: 14 Jul 2009 Posts: 168 -0.14 Dollars($)

An adjustable rate mortgage which has one interest rate for the first part of the mortgage (usually five or seven years), and a different interest rate for the remainder of the mortgage.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1