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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 973-900-0337.
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Elizabeth Winterbottom is one of The Top Selling Real Estate Experts™
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Welcome, I’m glad you found me…  My goal: work with you from start to finish to ensure that the process of completing your real estate transaction is both successful and as stress free. I never forget that buying a home is the largest purchase most people will ever make. Once I ascertain your needs, I will help you complete your transaction smoothly while saving you as much time and money as possible. This level of service, in spite of today's complexities, requires the utmost in professionalism, knowledge, dedication and confidentiality. My satisfaction comes from clients who have found a place to call home as a direct result of my hard work and positive attitude. Embracing these attributes as a realtor is why my clients come back to me with repeat business and also refer me to their family and friends and neighbors. The towns I specialize in are: Short Hills, Millburn, Maplewood, South Orange, Summit, Madison, Chatham and Westfield (and the New Jersey shore). Email me today, I look forward to working with you. - Elizabeth Winterbottom |  | | | | |
Financing Your Home >When Interest Rates Rise
Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.
One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.
If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.
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| Q |
What does the term ARM stand for?
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| A |
An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market. |
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