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Request Our Free Relocation Package. Don't Move To Southeast Michigan Without It!  Moving your family to another town or state is a major event in your life! We have helped many families and individuals relocate to and from the Plymouth, Canton and Northville, Michigan area. If you will be moving to the Plymouth, Canton and Northville area, we can correspond by email and phone. Together, we'll determine what type of home, price range, and neighborhoods you are interested in. We'll send you every home or property that is currently available that matches your criteria. When you visit, we'll be ready! We will visit the Plymouth, Canton and Northville neighborhoods and homes that interest you the most. In addition, we can talk about schools, sub-divisions, local market conditions, local culture... anything that is important to you. Remember: As top Plymouth, Canton and Northville REALTORS®, it's our job to know this area inside and out, and we want to make your transition as smooth as possible. Are you new to the area? Request our FREE package of Plymouth, Canton and Northville relocation information. It's our job to help! There's no obligation, and we promise to respond quickly...
Financing Your Home >ARMs
Here is a tip for those who are shopping for Adjustable Rate Mortgages (ARMs): the "margin" is almost as important as the initial rate. The margin is the percentage point above the average yields for Treasury notes on which future rate adjustments will be calculated.
Let's compare two hypothetical one-year ARMs. The first may have an initial interest rate of 7% with a 2.5 margin, while the second begins at 6 7/8% with a 2.75 margin. Both loans have rate caps of 2%. Suppose that at the end of the first year of the loan, the average of the one-year Treasury note yield has been 5 1/2%. For each loan, the lenders will add the margin to that 5 1/2% average yield. Thus the interest rate for first loan would increase from 7% to 8%, and the second would go from 6 7/8% to 8 1/4%. While the first ARM had a slightly higher initial rate, it will have lower rates in subsequent years, unless the Treasury note rates increase enough to activate the annual caps on the amount of the increase. There is a wide variance among margins in ARMs offered by competing lenders, and this should be a factor when you decide on your loan.
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| Q |
What group of settlers introduced the log cabin to the New World?
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| A |
The Swedish settlers of Delaware brought their own timber for building log cabins, a style that originated in Finland. |
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