When NOT to get an ARM

Quick Rule of Thumb
If you do not currently qualify for a current fixed rate loan product, and "need" the reduced payment to purchase a home, an Adjustable Rate Mortgage is a bad idea.

Are there times when an ARM would be a good idea?

1 - An ARM may be a a desirable loan product for investors who plan to turn their properties in the short term for a profit.

or

2- Homeowners who plan to refinance in the short term. CAUTION: This is a risky choice for borrowers seeking to purchase a home which would be beyond their means using traditional loans.

Need to talk to a mortgage officer?

Feel free to contact me for my personal referrals to reputable mortgage officers who I have worked with in the past.