Compare Mortgage Quotes

Guest

I was checking out the details on our loan recently. My husband thought we had a 5 year ARM, but on the loan details it says 30 year conventional. Could that still be an ARM?

Posted: Mon Sep 22, 2008 7:15 pm Post subject:

Hi Kstark,

You need to read your note to find out. There were some 5 year Interest only arms out there that after five years rolled into a 25 yr fixed rate. It is hard to say not knowing more. The best thing you can do is read your note, or you could call your lender and ask them...

Kim

gmakerley · Posted: Tue Sep 23, 2008 12:38 pm Post subject:

yes, it could still be a 30-year conventional loan. as our guest noted, though, your best method for determining what you have is to review your loan documents.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

Yes it could still be an adjustable rate mortgage. A 30 year conventional mortgage just means that it's amoritized over 30 years and is through an institutional bank or lender. Check the copy of the mortgage note to find out.

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