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    Welcome to Savings Home Mortgage LLC

    Whether you prefer to do business online or meet a live person, we will provide you a custom tailored loan to fit your exact needs.
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      • You can download the application material now and mail or fax it to us. This is a full application that can be printed as opposed to the online application that can be filled out on a browser.
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      Purchasing a home is a very exciting time, and being well prepared will help you make better decisions. Take this opportunity to learn more about home buying and the mortgage process.
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      Changing the terms of your loan can benefit you and maximize your monthly income.
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Adjustable Rate Mortgage


3/1 Adjustable Rate Mortgage (ARM)
This type of loan has monthly payments that are based on a 30 year repayment schedule and the interest rate remains fixed for the first three years. After that time the interest rate (monthly payments) may change year after. This is called the adjustment period. The new rate is based upon changes in a financial index and is calculated by adding a specified amount to the index. The amount that is added to the index is called the margin. Let's say the index equals 4.5% at the time of adjustment and the margin equals 2.50%, the new interest rate would be 7%. However, adjustable loans usually have an adjustment cap. So if the adjustment cap is 2%, the new rate would be 6.5%. There is also a lifetime cap which limits how much the rate can go up or down during the life of the loan. These loans can work out well for people who stay in their house for the short term.

5/1 Adjustable Rate Mortgage (ARM )
This type of loan is similar to the 3/1 ARM except for the fact that the interest rate remains fixed for the first five years.

7/1 Adjustable Rate Mortgage (ARM)
This type of loan is similar to the 3/1 ARM except for the fact that the interest rate remains fixed for the first seven years.

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