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43% of Homebuyers Who Took Out an ARM Now Regret It

Friday, Jan 13 2023
Lending
Written by  The Mortgage Leader

Almost half (43%) of homebuyers who took out an adjustable-rate mortgage (ARM) now say they regret it, according to a recent survey by U.S. News & World Report. So reports Realtor.com.

thumb down 1426814 640Erika Giovanetti, U.S. News & World Report loans specialist, said that while ARMs can still be a useful way to help homebuyers afford their mortgage payments, buyers need to know the exact terms of their agreements and plan ahead for when payments go up.

The survey, conducted last December, included responses from roughly 1,200 borrowers with an ARM.

Read the full article from Realtor.com.

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