* How can I save $60,000?
Switching your loan program from a Fixed Rate Mortgage (FRM) to an Adjustable Rate Mortgage (ARM) can save, in most cases, more than 1% on your interest rate.
This can lead to hundreds of dollars of savings per month on your loan payments.
Our calculation on this idea is below:
$200,000(standard loan amount) * 1% = $2,000
$2,000 * 30 years (standard FRM program) = $60,000 |