Question:
I currently have two auto loans, some credit card debt, and will be purchasing a house very soon. I know they have debt consolidation loans, but all ive seen are fixed rates for them. Do they offer Arm rates for debt consolidation for auto, credit, and mortgage loans? Any info is greatly appreciated. Also ive noticed that quicken loans has the cheapest rates, and best quotes do you know of others that have better?
Answer:
I AM SURE THEY HAVE CONSOLIDATIONS LOANS FOR ALL AND TO QUALIFY TO BUY ARM LOANS ARE GOOD BUT SHOULD FIX THE RATE AS SOON AS POSSIBLE AND PAY HIGHEST MAX PAYMENT AS POSIBLE
There are ARM mortgages and ARM lines of credit. But, why would you want adjustable and risk the payment rising significantly? Also check out ingdirect.com.
Thats what a HELOC is...home equity line of credit....the rates constantly change..but its risky...I prefer fixed rate loans
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