An adjustable rate mortgage is a mortgage loan that is fixed for a set period of time and then adjusts based on the rates during the adjustment period. Some common adjustable rate mortgage loans terms are 11 Womens Qadree Ollison Jersey , 31, 51, 71, and 101. The first number in what appears to be a fraction is the amount of time the rate stays fixed. The second number is the amount of time between adjustments. For example a 51 Adjustable rate mortgage would stay fixed for 5 years and then adjust annually.


An adjustable rate mortgage generally offers a lower rate than a fixed rate loan initially; however Womens John Cominsky Jersey , it could adjust to a higher rate than the initial fixed rate mortgage would have been. An Adjustable rate mortgage, also called an ARM, is very good for a person that knows specifically how long they will be living at a specific residence. In other words, a person who knows for a fact that they will be moving in four years would benefit from a 51 ARM because they would be moving out of that home and mortgage prior to the first adjustment period.


Adjustable rate mortgage loans also have an adjustment cap and a lifetime cap. For example a 51 arm could have an adjustment cap of 2% and a lifetime cap of 6%. So in a worst case scenario Womens Kendall Sheffield Jersey , a 51 Arm with a 29 cap and an initial rate of 5% would stay fixed at 5% for five years. At the five year mark the rate could adjust a maximum of 2% to 7%, after another year it could adjust 2% to 9% and after the next year could adjust to 11%. 11% would be the lifetime cap and therefore the adjustable rate mortgage could not increase any more. If the rates go down however, the rate could adjust lower after any given year.


There is however a floor rate which is the minimum rate the loan could ever achieve. In other words if the loan started at 5% and the floor rate was 4% the interest rate would never drop below 4%.


The difference between a fixed rate and adjustable rate mortgage is the fact that a fixed rate loan may start at 6.5% instead of 5% so for the first 5 years one would be receiving an interest rate 1.5% below that of a fixed.


Copyright 2006 Jason P Bertrand

Dubai has become one of the most sought-after travel destinations in recent times. It is now among the popular cities of the Middle East and has transformed into a globally renowned business hub over the years. The capital city of the Dubai Emirate in the United Arab Emirates (UAE), it is home to world-famous attractions Womens Kaleb McGary Jersey , such as the Burj Khalifa, the tallest building in the world, and Palm Jumeirah Island.


Not many decades ago, its economy was entirely driven by the oil revenues. Today Womens Chris Lindstrom Jersey , its tourism industry has become one of its major sources of revenue. While getting around in the city during your holiday, yoget to explore many attractions other than Burj Khalifa:


1. Burj Al Arab


For those who can afford the splurge, staying in this particular hotel can be one of the most memorable experiences of their lifetime. It is the 3rd tallest hotel in the world and offers luxurious stays with state-of-the-art amenities. Although booking a stay in this hotel for your Dubai holidays can be very expensive, you can choose to have a sumptuous dinner at its underwater restaurant. Having an afternoon tea in its Skyview Bar can also be an experience worth cherishing.


2. Jumeirah Beach


This enchanting beach can be your perfect place to unwind after a busy day of sightseeing. It is visited by plenty of tourists who arrive in Dubai from different corners of the world. Visitors to this beach can also benefit from the facilities available for water sports and sun loungers offered for those who wish to relax under the sun. Those wanting to try the local delicacies can head to any of the good restaurants located close to this beach.


3. Dubai Mall


Some fabulous shopping experiences await you in this magnificent mall of Dubai Womens Vic Beasley Jr Jersey , which is the largest in the world with regards to total area. Your cheap holidays to Dubai with your entire family can be full of fun with a visit to this mall, as the kids would love its attractions like KidZania, SEGA Republic, Dubai Aquarium and Underwater Zoo Womens Takkarist McKinley Jersey , and Reel Cinemas.


4. Jumeirah Mosque


A visit to this beautiful mosque would give you the opportunity to explore its fascinating interiors and to know more about the Islamic way of life through guided tours that are available for its visitors. These tours are organised by the Sheikh Mohammed Bin Rashid Centre for Cultural Understanding. Jumeirah Mosque