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My Dependability, Diligence, and Commitment to you will make for an exceptional Real Estate experience! Top Agent Coldwell Banker:858-245-9400
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Randy Podolsky is one of The Top Selling Real Estate Experts™
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Whether you are considering buying or selling a home, you have come to the right place. Welcome!
I am one of the Top Producer's for Coldwell Banker, specializing in the areas of Rancho Santa Fe, Del Mar, Carmel Valley, and North County Coastal San Diego. With 28 years of sales and marketing experience, I am equipped to assist you in all aspects of your residential real estate endeavors. My office is conveniently located in the idyllic Rancho Santa Fe village. And my motto is that "I treat every real estate transaction as if it were my own." I look forward to hearing from you.
Randy Podolsky
Financing Your Home >Watch Your ARMs Length Most buyers know that first-year interest on Adjustable Rate Mortgages (ARMs) is typically lower than the interest on available fixed-rate mortgages. This makes ARMs easier to qualify for, but also requires that borrowers have some understanding about how such loans work, because there are significant details associated with the low first-year rate.
First, check to see how long the low rates offered on the ARM are guaranteed. After that period of time, the rates can go up two points a year to a typical rate cap of six points over the life of the loan. Lenders will usually require borrowers to qualify for a mortgage loan that is several percentage points above the actual initial rate charged on the ARM. This is intended to keep borrowers from becoming overburdened by debt. Some lenders may charge special fees or caps which can increase the cost of the loan. If you think that an ARM may work for you, it is a good idea to shop around.
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| Q |
Where was the great land boom (1919) in which investors paid up to $25,000 for lots not yet dredged up from the ocean?
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| A |
The great Florida land boom brought hundreds of investors to the state after Carl Fisher founded Miami Beach in 1919. |
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