Long Beach Island NJ (LBI NJ) Real Estate Market and Adjustable Rate Mortgages
LBI Real Estate Adjustable Rate Mortgage 
LBI Real Estate Adjustable Rate Mortgage 
LBI Real Estate Adjustable Rate Mortgage
LBI Real Estate Adjustable Rate Mortgage andLong Beach Island Real Estate
An adjustable rate mortgage is a type of loan product in which the interest rate is not fixed, but rather will change depending on the terms of the loan and the current interest rates that are prevailing nationwide. These loans will typically be offered with different time frames with some having no fixed rate and others having a three year, five year, seven year, or other predefined time frame during which the interest rate is fixed. An adjustable rate mortgage can be a helpful way to structure the purchase of a home in the Long Beach Island real estate market for a buyer.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Adjustable Rate Mortgage
Adjustable rate mortgagesdeveloped a negative stigma during the last financial crisis as many homeowners entered into these agreements that artificially low interest rates. When these rates rose, many homeowners found themselves unable to afford the new payment. While this can and does still happen, responsible borrowers should plan and understand when and how this can happen. Depending on your personal situation an adjustable rate mortgage can make a lot of sense in the Long Beach Island real estate market as they will usually have a lower interest rate which can save you real money.
Adjustable Rate Mortgages in the Long Beach Island Real Estate Market
Being that the Long Beach Island real estate market is primarily a second home and investment market, an adjustable rate mortgage can make a lot of sense. The lower cost of a monthly mortgage payment can be a smart planning tool and especially when a longer rate is locked in, say 5 or 7 years, there is a good chance rates will either be around the same as they are today or the homeowner will have made a change (such as selling or refinancing the loan). Like any mortgage product all borrowers should discuss the options, including the pros and cons, of all the products available to them. If you have any questions about buying, selling or investing in the LBI real estate market please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
You May Also Like:
How to Win a Bidding War in the LBI Real Estate Market
How to Make a Competitive Offer in the LBI Real Estate Market
Buying Long Beach Island Real Estate Condos
Long Beach Island Real Estate Comps
Two LBI Real Estate Trends That Could Make This A Good Time To Buy