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Real Estate
Eileen M. Day REALTOR
TOPSY-TURVY FINANCING
In recent years, the task of financing a new home has turned topsy-turvy. It used to be so simple. You went to the bank to open a checking account then you went to the savings and loan to get a mortgage. Now, because of deregulation, anything goes. You can go either place for checking accounts or mortgages as well as to a mortgage broker.
Even the type of mortgage used to be so simple—fixed-rate. All you had to compare was the interest rate. Today, so many new mortgages have flooded the market that the average homebuyer has trouble making sense of their acronyms. After hearing about ARMs, SAMs, GPAMs, PLAMs and RAMs (to name a few), you’d think you were hearing a list of Russian missile systems.
If makes sense to start by seeking help from our office. Our job is to, not only sell homes, but see that they are financed properly. 1 We will have a good feel as to what is available and best in your situation.
If there is anything we can do io help you in the field of real estate please stop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, Va. 22747. Phone 675-3033. We’re here to help. v,
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