3 ms·
The main reason it is so cheap is that he is not locking in a rate. Regular borrowers who are willing to have their rate adjust monthly can also get great rate
by HockeyPlayer 14y ago
The main reason it is so cheap is that he is not locking in a rate. Regular borrowers who are willing to have their rate adjust monthly can also get great rates.
- will_work4tears 14y agoDo you think the fact that he can pay off the loan many times over helps? I mean if I were a bank, 1% is better than no interest if he pays it off.
- briandear 14y agoAnyone can get that rate if they're doing adjustable rate mortgages. But ARMs are what contributed to the housing crisis -- they're not a smart loan if one is dependent on a paycheck. *by anyone I mean those with qualifying credit..