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Real Estate Tips

Financing Your Home >More On ARMs

Lenders are always looking for new ways to help buyers get into the home of their dreams. Today they frequently use adjustable rate mortgages (ARMs) to increase the buyer's options. The interest rate on an ARM changes periodically to reflect changes in the national market. Since the loan starts at a rate that is lower than the national average, lenders can reduce the borrower's qualifying criteria.

One way to distinguish between different ARMs is by the national index to which they are tied. Some ARMs are tied to a slow-moving index called the cost-of-funds index; these are usually the most desirable. ARMs that are tied to a more volatile index, such as Treasury Notes, can be adjusted upward at a quicker rate. Look at all the factors before choosing a loan. The faster index loan may start out with lower rates and lower monthly payments, but the slower index ARM may eliminate your concern about having to re-finance down the road.

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Real Estate Trivia

Q	What areas are known as the 'silk stocking' districts of this famous city?
A	In Central Park West, Fifth Avenue and Park Avenue in Manhattan, apartments go for $222,610 to $282,709 per room.
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The Scott Team, REALTORŽ, real estate agent and broker for Reno, Sparks and Lake Tahoe, Nevada home listings, property and land for sale

Vince Scott/Kristen A. Gil
Intero Real Estate Services
Broker/Owner, Realtor
6990 S. McCarran Blvd. #300
Reno, NV 89509
Office: 775-762-7653
Fax: 775-284-8315
vscott@interoreno.com
kgil@interoreno.com
We are a dynamic Real Estate team with over 35 years experience in the Reno/Sparks and Tahoe markets. We are very knowledgeable about Short Sales, Foreclosures, Investment properties and 1031 Exchanges, in both Nevada and California. Vince is widely known as one of the premiere developers in the area. His accomplishments include construction development, brokerage and management of single and multi-family, commercial, hotel and resort properties and the responsible development of some of Tahoes most difficult and challenging environment projects. Kristen is a Short Sale Foreclosure Resource with the National Association of Realtors and a licensed property manager. She has extensive experience working with distressed sales and investors in our market. Hiring a successful, experienced team is critical in today's difficult Real Estate climate. Call us, we can help you navigate through the complicated web that Real Estate has become. We are your friends with the answers!

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