Beresford, Vermillion and Sioux Falls South Dakota real estate listings, home buying, selling and relocation information

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Financing Your Home >ARMs

Here is a tip for those who are shopping for Adjustable Rate Mortgages (ARMs): the "margin" is almost as important as the initial rate. The margin is the percentage point above the average yields for Treasury notes on which future rate adjustments will be calculated.

Let's compare two hypothetical one-year ARMs. The first may have an initial interest rate of 7% with a 2.5 margin, while the second begins at 6 7/8% with a 2.75 margin. Both loans have rate caps of 2%. Suppose that at the end of the first year of the loan, the average of the one-year Treasury note yield has been 5 1/2%. For each loan, the lenders will add the margin to that 5 1/2% average yield. Thus the interest rate for first loan would increase from 7% to 8%, and the second would go from 6 7/8% to 8 1/4%. While the first ARM had a slightly higher initial rate, it will have lower rates in subsequent years, unless the Treasury note rates increase enough to activate the annual caps on the amount of the increase. There is a wide variance among margins in ARMs offered by competing lenders, and this should be a factor when you decide on your loan.

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Q	How much does a celebrity's name boost the price of a property?
A	Typically no more than 5 percent, but there are exceptions--the greater the fame, the higher the price!
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Woody Houser, REALTORŽ, real estate agent and broker for Beresford, Vermillion and Sioux Falls South Dakota home listings, property and land for sale - NUMBER1EXPERT(tm)

Woody Houser
Farm and Home Realty, Inc.
711 W. Cedar Street
Beresford, SD 57004
Phone: 605-763-8085
Phone: 605-231-1867
Phone: 605-957-5425
Cell: 605-957-5425
Cell Sx Falls: 605-231-1867
Fax: 605-763-8084
Email: woodyhouser@NUMBER1EXPERT.com
Woody bought his first property in 1985, his first farm in 1990 and his first investment property in 1993. He has bought and sold residential, commercial and farmland every year since 1993. Woody has experience in all aspects of real estate transactions, including inspecting, financing, buying, surveying, selling, and leasing. Woody operates with integrity, professionalism and exceptional personal service. Woody, and his partner and wife, Mindy, with their technical capabilities and intimate knowledge of marketing, which includes the latest Internet technologies, will insure the buying and selling cycles will be quicker, smoother and more profitable for you. So for any real estate need in Sioux Falls and the surrounding area, email or call Woody Houser.

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