Hot Student Stories

Does a 5 year arm ever covert to fixed rate loan without doing a refi?

Ross Pratt

in Student Loans

1 answer

1 answer

Caroline Campbell on January 11, 2018

The normal 5 Years on the ARM converts to a fixed rate in years 6 to 30. With the amount of abuse and misconduct in the mortgage market in the recent past, I would like to seeand sure that it was a balloon payment that requires refinancing at the end of five years! Read the note if this is personal mortgage!

Add you answer