2/28 Adjustable Rate Mortgage

Posted by on Feb 27, 2011 in 2-28-arm

A 2/28 ARM is the idea that a home loan is fixed for the first 2 years, then would adjust after that period of time.  Because lenders didn’t have to lock in a great rate for 30 years, they often gave great teaser and entry rates on the 2/28 ARM’s.  ARM’s are a lot less popular today then they were years ago as people’s approach to getting a loan on a house has become much more conservative, as much as...

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