February 10th, 2017 9:05 AM by Rose Tignor
Most borrowers stay in their mortgage for 5 to 7 years. ARMs allow borrowers to pay down principal faster.A fantastic way to increase equity and drop PMI quicker.
ARMS CAN SAVE YOU MONEY
In the past, most ARMs featured heavy prepayment penalties. Now they don't.Today's ARMs are amortized over the full term of the loan, so your borrowers will never be faced with a balloon payment.ARMs also have readily identifiable caps, limiting the amount their rate can adjust.
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