7-Year-ARM.com Educates Home Loan Shoppers on a Lesser Known Mortgage Program

    WILMINGTON, NC, July 01, 2011 /24-7PressRelease/ -- 7-Year-ARM.com was recently launched to provide mortgage shoppers with information on 7/1 adjustable rate mortgage programs. The niche, mortgage research website also provides current 7 year arm mortgage rates advertised by a number of banks and mortgage lenders.

Low mortgage rates and fear of "risky" home loan programs have resulted in an overwhelming majority of purchase and refinance borrowers opting to take out a fixed rate loan. Some home buyers and homeowners aren't even presented with additional choices when they shop for financing - they are simply quoted 30 year fixed rate pricing because it's assumed that's what everyone wants. 7-Year-ARM.com, which was produced by Wilmington, North Carolina based CMG Equities, aims to clearly present the pros and cons of the 7 year arm program, along with up to date pricing.

"Most people aren't going to live in their current home for the next 28 years," says CMG Equities President, Nat Criss. "A 30 year fixed rate loan is a great fit for a lot of people, but there are those scenarios that warrant a second look at less popular programs."

With a 7 year arm the interest rate is fixed for the first seven years of loan term. The payments are not accelerated, and the loan is still repaid over the course of thirty years, but starting in the eighth year the mortgage rate can adjust up or down according to the market. 7/1 arm rates are generally lower than comparable 30 year fixed mortgage rates, which can result in significant interest savings over the course of a few years. It is important for any mortgage shopper to discuss their scenario with a licensed mortgage professional before making a decision regarding their home financing.

7-year-arm.com displays current 7/1 arm rates along with those of other programs, allowing consumers to compare them side by side and see what they would pay with the different options. The rates advertised on 7-year-arm.com are routinely among the most competitive in the marketplace. The mortgage companies listing their pricing in the rate tables know that they must offer low rates in order to compete with their fellow advertisers.

Rates advertised on 7-Year-ARM.com are submitted by individual mortgage companies and are available to those borrowers who qualify based on the unique loan criteria of each company. The posted rates are generally for financing owner occupied properties, with a 80% loan to value ratio and good credit, but many of the lenders and brokers offer additional programs as well. Interested borrowers can contact the individual mortgage companies (contact information is posted on 7-Year-ARM.com) for more details.

About 7-Year-ARM.com
7-Year-ARM.com is a mortgage research web site where consumers can learn about the 7/1 ARM program and compare mortgage rates competing providers. Mortgage interest rate data is updated daily and users can review rates, APRs, and closing cost information without supplying personal contact information. 7-Year-ARM.com is not a mortgage company and does not make loans. Interest rates are subject to change without notice. Please visit www.7-Year-ARM.com for up-to-date pricing information.

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