Interrupter CheckmarkInterrupter IconFacebookGoogle PlusInstagramGroupRamsey SolutionsTwitterYouTubeExpand MenuStoreCloseSearchExpand MenuBackStoreSign in

Enter to Win Cash for Christmas!

Home Buying & Selling

"Fixing" Your Mortgage

2 Minute Read

Mortgage rates don’t get much lower than this.

Megabank Wells Fargo is currently advertising a home loan rate of 2.375%. The only “catch” is that the loan is an adjustable-rate jumbo mortgage. Adjustable-rate mortgages, or ARMs, are famous for resetting to a higher rate after a specified amount of time. For Wells Fargo, the rate goes up after the first five years and then changes yearly after that.

The best way to keep your mortgage under control is to get a fixed rate on a 15-year loan where the payments are no more than a fourth of your take-home pay. Have at least 10% down, but if you can wait to put down 20%, that’d be even better. When you put down 20%, you avoid private mortgage insurance (PMI). Do these things and you won’t keep the mortgage for too long or pay too much.

It’s no secret that mortgage rates have been low for the last few years. So when you have an adjustable rate, where do you think it will adjust? In a word, up.

In three words, up, up, up!

If you need help with mortgages, we recommend Churchill Mortgage. Contact them today for answers to all of your mortgage questions. 

Dave's $10 Sale Is Back!

Shop the Sale

Choose a Real Estate Agent Who Thinks Like You!

Real Estate Agents Who Think Like You

Find Your Agent Now

Choose a Real Estate Agent Who Thinks Like You!

Work with an expert agent who understands Dave's financial advice.

Work with an expert agent who understands Dave's financial advice.

Find Your Agent Now Everydollar website

Thank You!

You will receive an email shortly at .

Next: Start Your Year Off Right!