Profile picture for jana.smith

Is any lender in the Dallas area still offering 5/1 ARMs?

It seems with the housing market meltdown, most lenders in the Dallas area (at least that I have spoken with) are only offering fixed rate mortgates.  Is there anyone out there that still offers 5/1 ARMs?  What type of credit, downpayment, etc. is required to qualify for one in this market?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 07 2009 - Dallas
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (8)

You can get a 5/1 ARM on either Conventional or FHA financing. The rates are excellent on these programs right now.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 26 2010
Several lenders in Dallas offering 5/1 ARM's as well as 7/1, 10/1 ARM's. Conventional and Jumbo. Have you submitted a quote request on Zillow?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 31 2009
5\1 ARMS are available in Dallas. Call or apply at (apparently) almost any broker.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 31 2009
Philip, please read the very first post under Mortgage Advice.  Nida is quite clear...NO SELF PROMOTION (Spam) on the threads.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 31 2009
[removed due to self promotion]
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 31 2009
One way to find out is to submit an anonymous loan request. This way you can decide which lenders to contact based on rates, fees, and other factors that are important to you.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 07 2009
You should not have any issues finding a local lender offering 5/1 ARM's. As Don said, the requirements are the same as fixed programs for Conventional financing.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 07 2009
There should be lenders in your area that offer that product.  [removed due to self promotion]. The qualifications are the same for a fixed rate mortgage in most cases.  Conventional financing requires 5% down payment or more.  To achieve a good rate the higher your scores the better but ideally you would be at 700  or above.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 07 2009
 
Related Questions
Investment Property Mortgage
Profile picture for Andy Gaggin
Latest answer by Andy Gaggin
June 05 | 3 answers
If i want to buy multiple houses to resale or filp, how would i be able to get th funding.
Profile picture for Zane Ponsetti
Latest answer by Zane Ponsetti
March 25 | 7 answers
SHORT TERM LOAN
Profile picture for Diane Briggs
Latest answer by Diane Briggs
June 21 2013 | 7 answers
How do I find Private Lender to buy owner/occupied house in Texas? and new to the US?
Profile picture for getalowmortgagerate
Latest answer by getalowmortgagerate
April 18 2013 | 3 answers
Does anyone know which lenders provide physician mortgages in Texas?
Profile picture for Blair Beard
Latest answer by Blair Beard
September 05 2012 | 6 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 5825 Marvin Loving Dr, Garland, TX Home For Sale
    5825 Marvin Loving Dr, Garland, TX 75043

     For Sale: $45,000

    • Beds: 1
    • Sqft: 669
    • Baths: 1.0
    • Lot: --
  2. 10704 C F Hawn Fwy, Dallas, TX Home For Sale
    10704 C F Hawn Fwy, Dallas, TX 75217

     For Sale: $415,000

    • Beds: 0
    • Sqft: --
    • Baths: --
    • Lot: --
  3. 10562M High Hollows Dr, Dallas, TX Home For Sale
    10562M High Hollows Dr, Dallas, TX 75230

     For Sale: $86,000

    • Beds: 0
    • Sqft: --
    • Baths: --
    • Lot: --