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Know How Much You Can Spend Before You Start Shopping You might have an idea of the loan payment and mortgage you can afford. But will your bank feel the same? It's always best to pre-qualify for a mortgage so you know exactly how much your financial institution will be willing to lend you. In the pre-qualification process, you will find out: - Exactly how much home, land or other real estate property you can afford. - How much cash you will need for the down payment, and how to compare the benefits of both minimum and larger down payments. - What monthly payment the bank or other financial institution feels you can afford. Please fill out the form below and a member of the Kansas City Real Estate team will quickly contact you. We respect your privacy and will not distribute your personal information to anyone other than our preferred mortgage broker. This service is provided FREE to you, with NO OBLIGATION. Kansas City Real Estate is here to help you pre-qualify for your mortgage. 
Financing Your Home >More On ARMs
Lenders are always looking for new ways to help buyers get into the home of their dreams. Today they frequently use adjustable rate mortgages (ARMs) to increase the buyer's options. The interest rate on an ARM changes periodically to reflect changes in the national market. Since the loan starts at a rate that is lower than the national average, lenders can reduce the borrower's qualifying criteria.
One way to distinguish between different ARMs is by the national index to which they are tied. Some ARMs are tied to a slow-moving index called the cost-of-funds index; these are usually the most desirable. ARMs that are tied to a more volatile index, such as Treasury Notes, can be adjusted upward at a quicker rate. Look at all the factors before choosing a loan. The faster index loan may start out with lower rates and lower monthly payments, but the slower index ARM may eliminate your concern about having to re-finance down the road.
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What is considered the world's tallest building?
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The 185-story CN Tower in Toronto, Canada is the world's tallest free-standing building, rising to 1,815 feet. |
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