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St. Charles, O'Fallon and Dardenne Prairie Information:
About St. Charles - Moving to St. Charles, Missouri? Get info here...
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Financing Your Home >Convertible ARMs
Many lenders are offering a type of Adjustable Rate Mortgage which will allow the buyers to convert their ARM to a fixed-rate mortgage without the expense of refinancing. There are several variations of this type of loan, so you should be informed about the various options before you decide on a loan.
Each lender places restrictions on when the ARM can be converted to a fixed-rate loan. Some allow a conversion after the first year of the mortgage, while others allow a change only on the rate adjustment dates. There is usually a fee for converting the mortgage, but it is much less than the cost of refinancing. The rate that you will pay after the conversion may be slightly higher than the going rate for fixed-rate mortgages. A real estate agent can provide you with a list of lenders who offer convertible ARMs, so that you can shop for the one that is best for you.
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What is considered the world's tallest building?
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The 185-story CN Tower in Toronto, Canada is the world's tallest free-standing building, rising to 1,815 feet. |
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Pam Schroeder Keller Williams Realty West 5377 Highway N. St. Charles, MO 63304 Direct: 314-575-2255 Office: 636-229-8700 Fax: 314-754-2640 pam@pamschroeder.com
Pam Schroeder with Keller Williams Realty West is dedicated to client satisfaction. We advise and consult with our clients to make sure all of their needs are met and that they walk through the home buying and home selling process with ease. If you need help buying, selling, building, or relocating in the Saint Louis, and St. Charles counties in Missouri. please call Pam directly at 314-575-2255 or 636-229-8700
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