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30 Year Fixed      6.375%                     Interest Rates for July 18, 2008

20 Year Fixed      6.250%                        Interest rates based on $100,000

15 Year Fixed      5.875%                      Loan amount with min. 30 day lock

7/1 ARM               5.875%                              1% Loan Origination fee 

5/1 ARM               5.500%            Call your Sands Mortgage Consultant for details                                                    

3/1 ARM               5.000%                               Rates subject to change without notice

                                                                                           Some restrictions may apply                      

 

 

 

 

 

 

 

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Adjustable Rate Mortgages

These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.

However, the interest rate changes at specified intervals (for example, every year) depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also.

There are also mortgages that combine aspects of fixed and adjustable rate mortgages - starting at a low fixed-rate for seven to ten years, for example, then adjusting to market conditions. Ask your Sands Mortgage Company mortgage professional about these and other special kinds of mortgages that fit your specific financial situation

 

Additional Adjustable Rate Mortgage Loan Information

 

Last modified: May 21, 2008                     E-mail: contact@sandsmortgage.com