Are you having a baby? Here’s a handy, downloadable PDF with a list of 50 essential items you’ll need for your new baby. Whether you’re sorting through your baby shower gifts or drafting your shopping list, these tips may help you figure out what you need most.
Although vacationing during the cold winter months is exciting, it’s important to take care of all the mundane details before leaving your home for a significant amount of time. Nobody wants to worry about the safety of their home while vacationing, and you won’t have to if you take these steps.
Characterized by bright colors, woven fabrics and handcrafted pieces, southwestern-style decorating takes influences from Native American, Spanish and Mexican art. Whether you live out west and want your home to reflect your surroundings, or you simply want to incorporate colorful or handmade items into your existing decor, here are some tips to help you...
An adjustable rate mortgage (ARM), is a loan with an interest rate linked to a specific economic index. As this index changes, the interest rate on your loan will change as well, and your monthly payments will be periodically adjusted up or down accordingly. Because ARMs are usually less expensive than fixed-rate mortgages, many borrowers choose ARMs when purchasing or refinancing. Borrowers might also choose an ARM if their property interest rates show signs of remaining low, if they don’t plan to keep their property for a long time and they need to save money in the short term, or if they intend to refinance to a fixed-rate mortgage before their interest rate adjusts. What Is the Index, Margin, and Adjustment Period on an ARM? Lenders use a specific index to measure interest rate changes on each ARM. While 1-year, 3-year and 5-year Treasury Notes are the most commonly used indexes, there are many others. The margin is the interest rate that represents the lender’s cost of doing business plus the profit they will make on the loan. The margin is added to the index rate to determine your total interest rate; it usually stays the same during the life of your home loan. The period between rate changes is called the adjustment period. For example, a loan with an adjustment period of 3 years is called a 3-year ARM, and the interest rate and payment cannot change until three years after the loan was originated. Are There Caps on…