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At the moment, the interest rates on fix rate loans are within a percentage point or so of the lowest they've been since the 1950s. With such interest rates, the attractiveness of adjustable rate mortgages tends to go out the window.At the moment, starting with 3.75% and maximum of 6% adjustment makes a maximum of 9.75%. That is a huge difference. Let's imagine you are qualified for a 5% fixed rate. how many dollars difference is that from 3.75% for the first two years. What would you be paying per month at 9.75% interest?I'm surprised they are offering a loan with no down payment. That is unusual.
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