The average 5/1 ARM also declined to close at 6.03%.

i had a guy in florida try and tell me the following:buy SFH 209,000 - new construction.at completion - "value" will be 252,000he tried to tell me that with an ARM of like 3% for one year - with a negative cash flow of about 6000 a year.in two years i could turn around and sell it for 270,000so that's negative cash flow - 12,000.the down payment was of course ridiculous like 1000 bucks - with all this "great financing".so that's 13,000wow for an investment of 13,000 - i would make over 50,000.in the salesman's words - for 13,000 investment for 50,000 return - that's not bad.BE CAREFUL when you're considering your investments when you're new.

Hopefully this will let me sell all the units.Here are the numbers (in k):Purchase price: 655, of which I'm putting 20% down and financing the rest at a 6.5% 3-year ARM.

I'm sure he/she was referring to an assistant.Of course laws differ by state, but I know that here in Tennessee the law is very explicit about what exactly you can and cannot do without a real estate license (this comes up all the time, since busy agents often hire assistants and it needs to be absolutely clear about what they are allowed to do and what must absolutely be done by the licensed agent).

.$5,000 Out of Pocket90% of Value/100% of CostConstruction to Perm loanOnce construction is complete the loan modifies into a 5/1 ARM with no additional fees/costs.

I explain this to them explicitly!

Ask them to give you a list of homeowners that currently have ARM mortgages, as change often proceeds the adjustment (selling, foreclosure, etc.).

Hey Ed,20% down on investment property, new ARM products, amort @ 30yrs, 3yr-3%, 5 yr-3.5%, 10 yr-4%.

Usually just means it's not arms length (within a family, divorce,trusts, etc), so it's not considered for comps on area tax valuations.

Seller, buyer, agents, and closing agent will all have to sign an arms length affidavit stating no such arrangements exist.