Hello,
Do you have your eye on a house you want to purchase - but the price of the home is a little too high for your income level?
Don't look know, but the FHA ARM's are coming back!
...Your debt-to-income ratio might be a little too high to qualify for that house on a 30 yr loan - however, you might just qualify if you went with a 3 or 5 yr FHA ARM.
This is because the rates on the 3 and 5 yr FHA ARM's are down around 4.00% right now! ...lower rate means lower payment.
...and, in many cases this changes a decline to an approval!
Just something to keep in mind if you're house hunting.
I hope you have a good day today. Thanks for reading!
Brett
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