A 1-year ARM is an adjustable-rate mortgage (ARM) that has an initial interest rate for one year, and thereafter has an adjustment interval of one year. The adjustment is based on a comparison of interest caps and the indexed rate.
The 1-year ARM is another loan choice for reducing your monthly payments is an effective way realize significant monthly savings. Eliminate the burden of high interest credit cards that seem to have never ending balances.
Debt Consolidation Plus provides secure consolidation loans with terms that range from 1 to 30 years for ARM products. Borrowers who plan on selling their home quickly or who need a short term low payment, prefer the 1-year ARM for refinancing their home. DCP works with lenders that specialize in debt reduction mortgages and debt consolidation loans and second mortgages in all 50 states. Pay off your bills with a 2nd home mortgage and you could reduce your monthly payments by hundreds of dollars each month. Of course, there may be additional tax deductions for mortgage interest as well.
Consolidation loans are designed to help people pay off bills and pay down debt. Banks, credit unions, fina companies and other lenders grant consolidation loans so that people can pay off a car, credit cards, medical expenses, student loans or whatever outstanding debt a consumer owes.
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Consolidation loans are usually beneficial, because the interest fees for a consolidation loan
are often less than the cumulated finance charges of other debts. When people consolidate their
bills through a loan, they also have only one loan payment to make each month rather than
numerous smaller payments to various creditors.