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Find Out About the Latest Allendale, Ridgewood and Mahwah Area Homes for Sale Before Anyone Else!
I add my newest homes and other real estate listings to this web site first. It can be some time before they appear in the NEW JERSEY, BERGEN COUNTY MLS, and even later on the national listings web sites, if at all. By signing up to receive my latest listings, I'll send you an email notice instantly -- as soon as my latest homes for sale go online. If you can be specific about your needs, bedrooms,baths,towns and style of home I won't need to send you listings that don't meet your criteria.
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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 |
In what area of the United States did the price of existing homes increase most dramatically in 2005?
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| A |
Phoenix, Arizona real estate recorded a 55.2 percent increase in home prices during 2005. |
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- NUMBER1EXPERT™ 
