mariajohn11
Senior Mortgage Executive
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Adjustable-Rate Mortgage
If you are currently serving in the military with a chance of relocating in the next few years, the flexibility of an adjustable-rate mortgage (ARM) could be the right option for you. ARMs offer lower introductory interest rates that can change after the initial fixed-rate period. Depending on market fluctuations after this initial fixed-rate period, your monthly payments could change due to rates increasing or decreasing.
There are several steps you can take to maintain your credit score. These include:
Pay all bills on time (or early!)
Don’t co-sign loans if not necessary
Don’t close old revolving accounts no longer in use
Don’t open new accounts (unless necessary)
Report fraud IMMEDIATELY
Do not extend or open new credit accounts while in the mortgage application process
Check out more Tips to Build Good Credit