Gen Information
Accommodations
Inns
Hotels
Resorts
Pet Friendly Hotels
Bed and Breakfasts
Vacation Rentals  
Weddings
Planners

Venues
Photographers
Caterers

Real Estate

Agents and
Realtors

Fishing

Flats Fishing
Sportfishing

Light Tackle Fishing
Party Boat Fishing
Scuba Diving
Dolphin Tours
Snorkeling
Kayaking and
Eco Tours

Sailing and
Sunset Cruises

Camping and
RV Parks

Marinas
Dry Tortugas Trips
Tours offered
around Key West

Parasailing
Rentals for
Boats
Jet Ski and
Waverunners

Bike

Scooter
Electric Car
Beaches

Nice Tips to Do
Art Galleries
Art and Crafts
Restaurants
 Mixed 
Seafood 
Steak
Breakfast   
American 
Cuban
Italian  
Caribbean 
Bars

Shops
Museums
Gardens

Theaters
Events
Area Parks
Tattoos
Adult Entertainment




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By Clyde Powell

Key West Real Estate Interest Rates    Key West Bed and Breakfasts

Questions and Answers for those looking to Buy or Sell

Buying Your Home
Interest Rates
 

Q: Tell me more about ARMs?

A: Adjustable-rate mortgages "are tied to an index which is a measure of the lender's cost of borrowing money. As the index rises, so will the interest rate on the adjustable loan," according to Dian Hymer, author of "Buying and Selling a Home, A Complete Guide," Chronicle Books, San Francisco; 1994. v Common indexes include Treasury Securities (T- Bills), Certificates of Deposit (CDs), and Libor (London inter- bank offering rate). Most metropolitan newspapers publish current ARM index rates.

Key West The interest rate and payment adjustments may or may not be scheduled to change at the same time. For example, the interest rate on some plans changes more frequently than the monthly payment, which may result in negative amortization. "This means that the additional interest will be added to the principal balance of the loan and may accrue additional interest itself," Hymer says. If the monthly payments on an ARM are increasing, generally this is because the index is rising or it is a negative amortization ARM.

People with adjustable-rate mortgages wanting to know how their payments are calculated might contact their lender or review the language in their loan agreement.

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Copyright 1999 Inman News Features

 

Clyde's Key West Real Estate
Key West Real Estate