Variable-Rate Mortgages

For a large number of American homeowners, skyrocketing interest rates have caused monthly mortgage rates to quickly become unaffordable. In fact, many Austin homeowners wouldn’t even qualify for the loan payments they are now expected to make.

This may be the case if you took out a variable-rate mortgage to finance the purchase of your home. A variable-rate mortgage, also known as an adjustable-rate mortgage, is a loan in which the rate of interest is subject to change. Unlike a fixed-rate mortgage, where the interest rate stays the same over the life of the loan, the interest rate on an adjustable-rate mortgage (ARM) is adjusted during its term based on the prevailing rates in the market.

ARMs are attractive to a number of home buyers due to their low initial payments, which enable the borrower to qualify for a larger loan and therefore buy a more valuable home. The “fixed-rate” period of an adjustable-rate mortgage can last from 1 month to 10 years, after which the interest rate fluctuates based on current market conditions.

While this type of loan offers initial benefits, it’s not for everybody. A number of people take out an adjustable-rate mortgage with the intention of moving in a few years. However, life happens – and this isn’t always the case. If your monthly mortgage payment increased significantly when the rate on your variable-rate mortgage re-set, you’re certainly not alone. The economy is not very predictable and rising interest rates have caught numerous homeowners off guard.

Sell Your Austin Home Quickly

If you’ve found yourself facing ever-increasing monthly payments that you can no longer afford, there are options available to you. Tally Two Investment Group helps Austin-area homeowners sell their properties quickly and easily. If, for whatever reason, you can no longer afford to make your monthly mortgage payments, we can help. Tally Two is a professional home buying company comprised of a group of hardworking real estate professionals and investors. We help families and homeowners in distress find legitimate solutions for their real estate problems.

As a BBB Accredited Professional Home Buyer, we understand that client trust is critical to the success of any good business. Tally Two was founded by ex-Navy Fighter Pilot, Brian Whitten, and is operated on the same principles of honesty, trust and integrity that he upheld during his time in uniform. We are open and transparent through each stage of the home buying process and work hard to ensure everybody walks away from the transaction happy.

If you can no longer afford to make your mortgage payments due to skyrocketing interest rates or another financial hardship, then contact Tally Two Investment Group today. We can act quickly and may be able to solve your real estate problems before your next payment is due.

Call (512) 763-0883 or simply click on the “Receive an Offer” button on this page to get started.

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