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Financing Your Home >Convertible ARMs

Many lenders are offering a type of Adjustable Rate Mortgage which will allow the buyers to convert their ARM to a fixed-rate mortgage without the expense of refinancing. There are several variations of this type of loan, so you should be informed about the various options before you decide on a loan.

Each lender places restrictions on when the ARM can be converted to a fixed-rate loan. Some allow a conversion after the first year of the mortgage, while others allow a change only on the rate adjustment dates. There is usually a fee for converting the mortgage, but it is much less than the cost of refinancing. The rate that you will pay after the conversion may be slightly higher than the going rate for fixed-rate mortgages. A real estate agent can provide you with a list of lenders who offer convertible ARMs, so that you can shop for the one that is best for you.

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Q	What home product makes lawn mowing easier than ever?
A	The Robomow, a robot lawn mower manufactured in the UK by Friendly Machines, can cut 6,000 square yards of lawn all by itself.
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Dan Delgado
I have worked with Dan for some time. He always goes the extra mile to make sure my clients get the best rate and highest quality service.
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Scott Gerami, REALTORŽ, real estate agent and broker for Naperville, Plainfield and Oswego Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Scott Gerami - Broker/Owner -ABR, GRI, e-Pro, CSC
Real Time Realty, LLC.
424 Fort Hill Drive, Suite 134
Naperville, IL. 60540
Toll Free:: 800-297-9772
Direct:: 630-357-4800
Cell Phone:: 630-670-5802
Fax:: 630-206-0386
Email: Scott@NaperHomes.com
Since 1986, I have served the housing needs of individuals and families in the Western Suburbs. As a resident of the Naperville area, one of the fastest growing areas in the United states, I have become aware of the many housing opportunities available for the first time buyer to the empty nester. I am involved in many community organizations throughout the Western Suburbs. and have become a familiar face to many of the builders and financial lending institutions in the area.

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