ARM (Adjustable Rate Mortgage)
An adjustable rate mortgage is also known as a “variable-rate mortgage” or a “floating-rate mortgage”. It is a type of mortgage in which the interest rate paid on the outstanding balance varies according to a specific benchmark. The initial interest rate is normally fixed for a period of time after which it is reset periodically, often every month. The interest rate paid by the borrower will be based on a benchmark plus an additional spread, called an ARM margin.
Both 2/28 and 3/27 mortgages are examples of ARMs. A 2/28 mortgage’s initial interest rate is fixed for a period of two years and then resets to a floating rate for the remaining 28 years of the mortgage. A 3/27 mortgage is typically the same as a 2/28 mortgage, except that the interest rate is fixed for three years and then floats for the remaining 27 years of the mortgage.
I just have one question…..”Do you know anyone in Huntsville, Alabama, that can sell a home within one week of listing it?” If so, use them. I used Amanda Howard, and my home had a contract on it within a week. Flawless performance and service.
Our agent (Whitney Stringer) was great! She was easy to work with and only showed us homes that we were interested in seeing. She even rearranged her weekend schedule to meet us when we came in from out of town to look at homes on short notice. She was professional, courteous, and a pleasure to work with. Because of here we would gladly work with Amanda Howard again in the future.
I don’t write many reviews. And usually when I do it’s not because of a wonderful experience. BUT I am so unbelievably impressed with Natuski. I work out with Amanda and Clair, and in casual conversation of us considering buying a house, they put me in touch with Natuski. I cannot say enough good things about her. She is the one you want, if you want someone friendly but serious about working for you. She was patient when we went in all different directions, and really helped me narrow down loo…
We used Whitney Stringer as our buying agent for purchasing our new home. Whitney, as well as the entire staff at Amanda Howard was very patient with all of our questions and kept us up to speed as we navigated this very complicated process. Overall, it was a relatively painless process, and we are very happy with our new home!
Y’all were very helpful in our search for a home. Natalie made the process easy and was very communicative.
I was very impressed with the knowledge and experience from Clair Lee, my realtor, from Amanda Howard Realty. I have listed two homes with this company and have been more than satisfied with the results. They are the only company that I have dealt with in the last 20 years that has total feedback daily on the market and personal feedback on the homes that I had listed. I would definitely recommend this company highly.
Amanda and team, Thank you for assisting our buyers find their dream home! They still talk about their awesome experience!
I never hesitate to refer a relocating client to Amanda and Team. They have proven systems for both buyers and sellers and deliver top notch customer service throughout the process… and most importantly RESULTS! The Amanda Howard Team are true professionals and masters of their craft!
Amanda Howard truly has your best wishes at heart. They are professional, knowledgeable and try to take the stress out of your transaction. Amanda Howard is great!
Whitney is extremely professional and personable. She is very knowledgeable and was so helpful in the whole process of finding the perfect house. She was great to work with and always made time for us. We would recommend her to anyone in the market to rent or buy!