| Goals |
30-Yr Fixed |
15-Yr Fixed |
5/1 ARM |
3/1 ARM |
Power Option
ARM |
Interest-Only |
5-Yr Balloon |
7-Yr Balloon |
| I look for monthly cash flow
savings to invest or to reduce high cost credit obligations |
|
|
|
|
X |
X |
|
|
| I want to have more
flexibility in managing my mortgage interest payments to maximize their
tax advantages. |
|
|
|
|
X |
X |
|
|
| I would like to take
advantage of the lower initial interest rates and payments associated
with monthly adjustable-rate mortgages and am comfortable with more
frequent payment fluctuations due to changing interest rates |
|
|
|
|
X |
X |
|
|
| I want a stable monthly
payment |
X |
X |
X |
X |
|
|
X |
X |
| I want to buy as much house
as I can |
|
|
X |
X |
X |
X |
|
|
| I plan to own my house in 5
years |
|
|
X |
X |
X |
X |
X |
X |
| I believe interest rates are
likely to fall |
|
|
X |
X |
X |
X |
|
|
| I believe interest rates are
likely to rise |
X |
X |
|
|
|
|
|
|
| I need flexible monthly
payments |
|
|
|
|
X |
|
|
|
| I want to avoid negative
amortization |
X |
X |
X |
X |
|
X |
X |
X |
| I want the lowest possible
payments |
|
|
|
|
X |
|
|
|
| I plan to refinance within 5
years |
|
|
X |
X |
X |
X |
X |
X |
| I want more control over my
monthly cash flow |
|
|
|
|
X |
X |
|
|
| I have unsteady income - I
need flexible payment options |
|
|
|
|
X |
X |
|
|
| I want to pay off my home as
soon as possible but I want a stable monthly payment to do so. |
|
X |
|
|
|
|
|
|
| I would like to purchase a
larger house without increasing my monthly mortgage expense. |
|
|
|
|
X |
X |
|
|
