Why is an arm a bad idea? Adjustable-rate mortgages aren't for everyone, and can be a very bad idea for some people. ... The advantage of an ARM is an apparently lower initial interest rate and smaller monthly payment, but there are a few scenarios where an ARM can be less than ideal.
How much can I borrow from my house? Mortgage Guide If your lender advances up to 80 percent of the value of your home and the house is worth $300,000, your max... more