by Scott Gentry | Sep 17, 2024 | First-Time Homebuyer, Mortgage Basics
1. Adjustable-Rate Mortgage (ARM) An Adjustable-Rate Mortgage (ARM) starts with a fixed interest rate for an initial period (usually 5, 7, or 10 years), after which the rate adjusts annually based on a set index, like the prime rate or LIBOR. Example: With a 5/1 ARM,... 
by Scott Gentry | Aug 21, 2024 | Getting a Mortgage
When embarking on the exciting journey of purchasing a home, the term “escrow” inevitably arises. While it might sound like legal jargon, understanding the role of escrow is crucial in ensuring a smooth and secure home loan transaction. Let’s break...