Listing Details: Show Low and Navajo, Arizona Real Estate Listings & Homes For Sale Provided by Laurie McCain

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Torreon Real Estate Specialist

These properties presented by Laurie McCain of Sonoran Lifestyle Real Estate
Specializing in Resort and Second Home Properties

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Feature Property - Lot 149, Rendezvous 2, Torreon

$200,000

Photo of Lot 149 Rendezvous 2, Show Low, AZ, 85901.

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Address: Lot 149 Rendezvous 2	City/ST: Show Low, AZ	Zip Code: 85901
Location: Show Low, Arizona in Torreon	Property Type: Land	New or Resale: Resale
MLS# 84735

Last Updated: 8/28/2009 4:40:16 PM

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Financing Your Home >Watch Your ARMs Length

Most buyers know that first-year interest on Adjustable Rate Mortgages (ARMs) is typically lower than the interest on available fixed-rate mortgages. This makes ARMs easier to qualify for, but also requires that borrowers have some understanding about how such loans work, because there are significant details associated with the low first-year rate.

First, check to see how long the low rates offered on the ARM are guaranteed. After that period of time, the rates can go up two points a year to a typical rate cap of six points over the life of the loan. Lenders will usually require borrowers to qualify for a mortgage loan that is several percentage points above the actual initial rate charged on the ARM. This is intended to keep borrowers from becoming overburdened by debt. Some lenders may charge special fees or caps which can increase the cost of the loan. If you think that an ARM may work for you, it is a good idea to shop around.

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Q	What famous hotel did John Wayne, Lee Marvin & Elvis Presley stay at while filming on Kauai?
A	The Coco Palms
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Laurie McCain, REALTOR�, real estate agent and broker for Show Low and Navajo, Arizona home listings, property and land for sale - NUMBER1EXPERT

Laurie McCain
Sonoran Lifestyle Real Estate
3350 W. Sugar Pine Way Suite 100
Show Low, AZ 85901
480-789-9565
Fax: 928-537-5301
lauriemccain@NUMBER1EXPERT.com

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