Lake Geneva option ARM mortgage

One of the more popular types of Lake Geneva mortgage to emerge in recent years is the option ARM. However, this may not be the best mortgage for you when buying Lake Geneva real estate. Here are some of the downsides to the option ARM:

• The low intro rate soon gives way to a higher variable rate, increasing your payments.
• You only pay on the interest (and sometimes not even all of that) initially, so you aren’t building equity.
• Payments go up dramatically once you start paying on the principal and making full interest payments.
• Many times, a Lake Geneva option ARM comes with a prepayment penalty, making it expensive to refinance.

For more Lake Geneva mortgage information or help buying Lake Geneva real estate, call Bob Webster at 1-800-364-7579, or email him at bob@lakegenevaproperty.com.

Contact Bob Webster
call (262) 348-3233 or (800) 364-7579 24 Hour Voice Mail
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