A Salute To Our Veterans!

Roger, copy, coming in!

The largest annual air show in The United States took place in San Diego over this last weekend, October 2nd-4th. Aircrafts were soaring high and low, audaciously performing for an estimated audience of 700,000 people!

A variety of different types aircrafts were exhibited as well as flown.

During the three-day event, the show’s daily performance agenda included military and civilian aircrafts, with the spotlight on the U.S. Navy Flight Demonstration Squadron, the Blue Angels, and a special Saturday night “Twilight” Show.

Since 1999, the Miramar Air Show has often featured a Navy Legacy Flight, where modern jets fly in formation with aircraft from previous eras in celebration of military veterans and naval aviation history.

That’s really what this whole event was about. Celebrating our veterans, the mean & women who sacrifice themselves for our Freedom.

Now that you’ve fought for our Freedom, we want to fight for yours. Your Financial Freedom.

At Global Equity Finance, we work with The U.S. Department of Veterans Affairs to ensure that when it comes to buying a home for our veterans and their family, they have the best possible option.

Our VA Loan Program has a multitude of never-ending benefits for our veterans. You can purchase a home with ZERO down payment, there’s NO monthly private mortgage insurance, you can take cash-out, and the list goes on and on.

These benefits are here to make purchasing a home easier and more accessible to those who have served our nation.

If you think you qualify for a VA Loan, you’re probably right.

Give Chris Logorz, one of our Veteran Senior Loan Consultants, a direct call (858)952-7795, to see what type of VA Loan we can get you started on.

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Why You Should Consider an Adjustable Rate Mortgage

ARM BlogContrary to popular belief, Adjustable Rate Mortgages are actually fixed for an initial  period of time, that can either be 3, 5, 7, or 10 years—depending on what the home-owner’s needs are at that time.  Essentially, it is a short-term fixed mortgage because it is fixed for a number of years and then the interest rate may adjust.

Adjustable Rate Mortgages (also known as ARMs) are a great tool to save money during the beginning of your loan period.

Some of the benefits of an Adjustable Rate Mortgage include:

  • It’s a fixed rate for a set number of years and you know when to expect the interest rate to adjust
  • Lower interest rate and lower payments for the initial period (and potentially for life of loan)
  • Interest rates can drop
  • Provides flexibility and allows for change
  • Caps can protect borrowers

It makes perfect sense for people who aren’t looking to stay in the same home for the full 30 years (conventional fixed loan term)  to choose an ARM. It’s also a feasible option for people who are looking to pay their loan down quicker because the payments are lower, therefore offering more flexibility of paying down loans and making smaller payments (if necessary).

In reality, things in your life are going to change every few years so it’s a great option for people who don’t know exactly where they will be in the next 5, 7, years and so on.

Like any loan, as long as you understand it and have a plan in place, it’s a great option. For more information on Adjustable Rate Mortgages, check out our video.

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Refinancing Your Loan With An Adjustable Rate Mortgage

Refinancing your loan with an Adjustable Rate Mortgage is a viable option. One thing we always like to stress to people who are looking to refi their San Diego home loans is to consider all possible advantages they might take in helping them get that refi’ed rate — in particular, the advantages of ARM.

refinance-adjustable-rate-mortgage

Short for Adjustable Rate Mortgage, ARMs might not be as popular an option for some homeowners as fixed-rate mortgages — due in no small part to their low interest rates — but they do offer unique advantages all their own as well, which we’ll be covering today.

Friends, lend me your ARMs

Right of that bat, it’s important to note that ARMs typically offer some of the lowest mortgage rates around.  They’re able to do this because ARMs only lock your rate in for a limited time — usually over 5 to 7 years at a time.  Once that initial period comes to an end, the rates will then be reconfigured based on current mortgage market conditions.

Because of this, ARMs are generally sought out (and make the most sense for) borrowers who are only looking to stay in their home for a shorter period of time than most others would.  If you aren’t looking to stay in one place for more than, say, 5 to 10 years, an ARM may be the best way for you live comfortably with a lower rate.

Pay it down quicker

Maybe the low rates of a 15-year fixed mortgage look enticing to you, but the promise of larger monthly payments has been enough to hold you back from signing the papers?  An ARM might just be the thing for you.  Since they offer much lower monthly mortgage payments, borrowers that choose this option have the flexibility of paying down their loans quickly and making smaller payments if necessary.

On average, the minimum monthly payment borrowers who go with ARMs can expect is around 60% of what you’d pay on a 15-year fixed mortgage.  Choosing to pay the extra 40% a month on an ARM for the next 15 years can cut the mortgage principal by nearly half of what it was.

Interested in finding out if an ARM is the right plan for you?  Find out more and contact us today.

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