The flourishing economy of Southern Maine has allowed residents to live comfortably and feel at home with all the modern amenities at hand. Despite its size, population and excellent business climate, the region maintains a safe and secure environment with pedestrian-friendly city streets. Residents are provided excellent educational opportunities at the various school districts throughout the region as well as in the surrounding areas. With endless recreational activities, cultural events, several museums and art galleries and plenty of shopping, everyone will find something to enjoy.
Demetria's Team is your leading source for all of your greater Portland real estate needs. Whether you are buying or selling a home, we know that it is one of the biggest events in your life and we are here to help you through the process. Use our advanced property search tool to begin searching for your dream home today or sign up to receive free email listings that match your specifications and desired features. Contact Demetria's Team today and let us help you learn more about the greater Portland, Falmouth and Gorham real estate market and available homes for sale.
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Financing Your Home >Watch Your ARMs Length Most buyers know that first-year interest on Adjustable Rate Mortgages (ARMs) is typically lower than the interest on available fixed-rate mortgages. This makes ARMs easier to qualify for, but also requires that borrowers have some understanding about how such loans work, because there are significant details associated with the low first-year rate.
First, check to see how long the low rates offered on the ARM are guaranteed. After that period of time, the rates can go up two points a year to a typical rate cap of six points over the life of the loan. Lenders will usually require borrowers to qualify for a mortgage loan that is several percentage points above the actual initial rate charged on the ARM. This is intended to keep borrowers from becoming overburdened by debt. Some lenders may charge special fees or caps which can increase the cost of the loan. If you think that an ARM may work for you, it is a good idea to shop around.
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| Q |
How can you give your home the equivalent of sunglasses?
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| A |
Install low "E" squared glass filters sunlight, saves on energy costs and prevents fading of furniture, drapes and carpets. |
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