GoldenPoint Finance has been keeping Mortgage within your reach. Our loan programs aim to answer your needs in the best way possible.
As your Mortgage Broker in San Jose California, we work with different lenders across our loan products to help fund your dream house, dream car, or start your business.
In every decision you make, we understand your goal is to get the best interest rate. This is where our team shows our experience and expertise in helping you find a suitable loan.
One of the many options we provide is an Adjustable Rate Mortgage or commonly referred to as an ARM. Taking a cue from the term adjustable, ARMs are home loans with interest rates and payments that vary based on the rise or fall of interest rates. This option starts on a fixed-interest rate applicable for a set duration. Then, the interest payment gets adjusted to reflect current market conditions.
ARMs are beneficial because the client can get a lower interest rate reflecting the status of the market and the lender may be able to qualify you for a larger loan after calculating your debt capacity.
However, just like any other decision, there are situations you need to carefully evaluate. When interest rates are higher, this will affect your payment calculations. You also need to understand the specific terms and conditions associated with this program.