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The Time is Right!

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My clothes and shoes are all over the place. I can barely see the bottom floor of my closet, much less find anything! I just saw the movie Sex in the City and fell in love with Carrie Bradshaw’s closet. So bright and sleek with clever cubbies for shoes, and racks galore. 

Full Closet

And it was HUGE!

I want a new closet! But how do I make that happen? I know the economy isn’t booming, but I’m also a realist and interest rates are among the lowest in history for mortgages. Could this be an opportunity for me?

I need more space. Our family has expanded and where I once had more space for my things, I’ve had to sacrifice shelves and closets for our little one. Wouldn’t trade that for anything, but I’d love to get control of my house and space. And I’m sure my husband wouldn’t oppose a tidier bedroom or object to having a little more space for his golf clubs, basketballs, shoes and whatever else he’s got stuck in random places.

This idea has prompted me to do some research and I found that rates are favorably low right now and we could refinance our mortgage and consolidate our small equity line into an Adjustable Rate Mortgage (ARM).

And Truliant Federal Credit Union has an incredible offer worth thinking about.  They have 3/1 and 5/1 adjustable rate mortgages with a 5% cap over the life of the loan. For the 3/1 ARM, this would mean a fixed-rate for the first three years at a remarkably low rate.

And right now Truliant is offering to pay our closing costs up to $1,000! 

After the initial three-year period, our rate could only go up 2% maximum, and only 5% maximum over the life of the loan. Our payment would actually be lower per month for the next three years, at least! 

Maybe enough to get that new closet?

Truliant offers a multitude of mortgage financing and refinancing options. They’ll take the time to tell you which one might work best for your circumstances.  An adjustable rate mortgage might just be perfect for your situation. At Truliant I know the member-owner representatives are always there to assist with any questions along the way. You can always contact them or visit TruliantFCU.orgfor more information and see if an ARM is right for you.

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