DO NOT PROCEED WITH AN ADJUSTABLE RATE MORTGAGE UNTIL YOU HAVE READ THIS HANDBOOK WRITTEN BY THE FEDERAL RESERVE BOARD

Use C.H.A.R.M. when dealing with ARM’s- The MUST READ Guide to Understanding Adjustable Rate Mortgages

CHARM stands for Consumer Handbook on Adjustable Rate Mortgages. This publication was written in order to explain all the pros and cons of ARM’s. It explains topics such as:

Adjustment periods

How monthly payments work

Payment shock

How to calculate you fully indexed rate

At what rate your adjustable is capped at

Variation in ARM’s

How to avoid owing more money than you borrowed

Pre-payment penalties

Consumer Handbook on Adjustable Rate Mortgages