Kerry Greenwald, the owner of Creekside Mortgage, Inc., is not only the owner of a mortgage company, but a homeowner, as well. And, it should be no surprise that he’s got a VA home loan!

Over the recent months, Kerry has received multiple offers in the mail that offer him a lower interest rate in hopes of gaining his business in doing a “Streamline” or “IRRRL (Interest Rate Reduction Refinance Loan).”

Kerry has received cards that boast rates such as 2.75%, a rate that seems quite low. Each time that Kerry gets these ads in his mailbox, he immediately researches the ad and the offer being presented to find out just how they are able to advertise such a low rate.

According to Kerry, the majority of offers that he gets are actually loans with an ARM (Adjustable Rate Mortgage) structure, meaning that while you may start with a super-low interest rate, that rate will adjust in the years after.

With rates already low, why take a chance that your rate will surprise today’s rate for a 30 year, fixed-rate mortgage, in order to save in the short term? Plus, by choosing an ARM, you lose the perk of your VA home loan assumability option.

Before making any decisions about refinancing your home, please do your research. If you’d like someone to help you go through your options, give us a call!

Creekside Mortgage, Inc. 360.571.5626