A place for passiong about refinance mortgage
VA guaranteed mortgage loans are available only to veterans who have served at least 90 days and were not discharged dishonorably. Adjustable rate mortgages (ARMs) are more complicated. A basic way to explain the concept would be to say that your monthly payments are fixed for a certain number of years at the beginning of the loan term, then adjust along with fluctuations in interest rates during the remaining years. Suffice it to say that the fixed rate period is only a fraction of the entire loan term. Some borrowers may qualify for one of the so called specialty loans that are currently available.