Unit 6–3: Fixed vs. Adjustable Rate Mortgages
What is an ARM?
http://www.pueblo.gsa.gov/cic_text/housing/handbook/handbook.htm
Short and informative discussion of adjustable rate mortgages (ARMs) from
the government’s “Consumer Handbook on Adjustable Rate Mortgages.”
Adjustable-rate mortgage (ARM) indexes explained
http://www.bankrate.com/brm/news/mortgages/20040415a1.asp
Informative discussion of how the index of most ARMs are constructed.
Includes descriptions of COFI and MTA (or MAT) indexes
How Do You Assess an Adjustable Rate Mortgage?
http://www.mtgprofessor.com/A%20-
%20ARMs/how_do_you_assess_an_arm.htm
Useful discussion of common misconceptions and pitfalls of ARM practices;
includes examples, mistakes to avoid, glossary, ARM mortgage calculators.
Unit 6–4: Finding the Right Mortgage for You
Finding the Right Loan for You
http://www.homefair.com/articles/mortgage/thekeystogettingtherightmortgag
e.asp?cc=1
Short description of ways to compare loan terms between lenders along with
some common sense advice regarding mortgages.
Find the Mortgage That’s Right for You
http://www.investopedia.com/articles/pf/05/031605.asp
Brief comparison of advantages and disadvantages of fixed rate and
adjustable rate mortgages.