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Special section Mortgage reset

Confused by contract terminology? These interactive tools will help borrowers understand their adjustable-rate mortgages.

Tools

Adjustable-rate mortgage contract primer
 

Select one of the tabs to view the contract. Place your mouse over the highlighted sections of the contract to view an explanation. To see how the annotated contract was developed, read this article.

Prime ARM
Subprime ARM
Option ARM
Balloon
Prepayment penalty

Source: Equity Now
Explanation:
-- Posted: May 29, 2007
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INTRODUCTION
 
 
 
 
 
 
 
Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.23%
15 yr fixed mtg 3.23%
5/1 ARM 3.45%
Rates may include points
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