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Financing Your Home >The Margin on an ARM

When you are shopping for an Adjustable Rate Mortgage, the important thing to consider is the margin. Each time your loan is adjusted, the new interest rate will be tied to an index of Treasury notes. The margin is the percentage point above that index where your rate will be set.

Let's suppose that you have a one-year ARM with a 2.5 margin. Your initial rate was 7.5%, and during the first year of the loan, the index of 1-year Treasury notes was at 6.25%. The rate for the second year of your loan would be adjusted to 8.75%. With a margin of 2.75, it would increase to 9%. Some lenders offer lower initial rates with higher margins. In this case, the subsequent rates could be higher after the first year, than if you chose a higher initial rate with a lower margin.

If you are confused by the various mortgage offers, ask a professional mortgage broker to sit down with you and show you how it works. Today the rates and different financial possibilities are so variable that it is a good idea to talk to a mortgage broker--they usually know where the best rates can be found.

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Q	What is the average price for a home in the United States?
A	According to recent data published by the NAR, the national median price for existing single-family homes is now $230,000.
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The Allen Group, REALTORŽ, real estate agents and broker for Northwest Oklahoma City, Deer Creek, Edmond Oklahoma home listings, property and land for sale - NUMBER1EXPERT(tm)

The Allen Group
RE/MAX First
1000 W. Wilshire
Suite 428
Oklahoma City, OK 73116
Phone: 405-843-8448
Toll Free: 800-749-8866
Fax: 405-843-9499
Email: theallengroup@sellingoklahoma.com
Results Count! The Allen Group at RE/MAX First, under the direction of leading Realtor and Broker Associate Chris Allen, has a proven track record in Edmond, Deer Creek, Oklahoma City, Nichols Hills, Piedmont, Yukon, Mustang, Moore and Norman for consistent results. Customer Satisfaction is our #1 Priority, says Chris, a native Oklahoman and graduate from the United States Air Force Academy. Our team has developed a solid reputation for delivering personal and professional service through hard work, integrity and commitment to our clients. We know the Oklahoma market from historic homes to new construction and acreage homes. We can even custom build your dream home! Every person has unique needs. We tailor our services to each client, getting to know them on a personal level and making the real estate transaction a fun and enjoyable one, say Natalie Broughton, one of The Allen Groups top Buyers Representative.

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