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A.R.M.s and Fixed Rate Loans

Conventional mortgage loans are typically offered as fixed rates amortized over 30 or 15 years, for example, or as adjustable rate mortgages (A.R.M.s) which are most often amortized over 30 years. As the terms imply a fixed rate mortgage is fixed at a specific interest rate for the lifetime of [...]

July 31st, 2014|Enchanted Homes, News|Comments Off on A.R.M.s and Fixed Rate Loans

Interest Rates – Worst week in 10 years

Residential mortgage interest rates have remained quite steady for the last year and a half but the last week of June in 2013 brought on the largest three day increase in rates in at least ten years. According to Mathew Graham, columnist for Mortgage News daily, “These three days toward [...]

August 11th, 2013|Enchanted Homes, News|Comments Off on Interest Rates – Worst week in 10 years

FICO

How is the value of something established? How do we decide what something or someone is worth? How much is that small Monet? What’s the value of 3 acres in Arroyo Hondo, this diamond ring, a smile from across the room, or a Facebook friend? The banking industry requires a [...]

May 9th, 2013|Enchanted Homes, News|Comments Off on FICO