Buying a Home?

(From Wells Fargo)

Our FHA adjustable-rate mortgage (ARM) provides many advantages:

This is a great time to be a homebuyer! Interest rates are historically low. There are plenty of homes to choose from. And with a government-insured FHA 5/1 adjustable-rate mortgage (ARM) (1):
• The initial interest rate (start rate) is very attractive and principal-and-interest payments are fixed for the first five years
• There are built-in safety nets, because the interest rate can only go up or down 1% per year or 5% over the life of your loan
• High loan amounts up to $729,750 are available in certain metropolitan areas with high housing costs. (2)

Benefits within an ARM’s reach:
• Buyer-friendly — Flexible credit and income qualifying guidelines
• Cost-effective — Down payments as low as 3.5%
• Attractive rates — initial ARM interest rates are typically lower than fixed rates, but can adjust in the future
• Accommodating — Gift funds accepted toward your down payment
• Fully assumable — Future qualified buyers may be able to take over the loan under its original terms

(1) Interest rates may increase after consummation. (2) Increased FHA and conforming loan amounts are only available on loans closed and funded on or before December 31, 2010. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2009 Wells Fargo Bank, N.A. All rights reserved. 105525 – 1/10

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