LANSING, Mich. (WILX) – Buying a home can feel like a game show right now—especially with interest rates keeping everyone guessing.
To help make sense of the market, we sat down with Rob Boomershine, Vice President of Lending at Lafcu about options for today’s buyers.
Rob says Lafcu’s “10/6 ARM” is designed to help people “buy more house at a lower rate” when higher rates are squeezing budgets.
In many cases, that lower starting rate can translate into tens of thousands of dollars more in purchasing power.
The 10/6 ARM is also available for refinances, meaning current homeowners may be able to take advantage too.
So what makes this ARM different from others on the market?
Rob says it offers a 10-year lock period—longer than many ARMs that only fix the rate for three to five years.
He adds Lafcu has priced the 10/6 ARM about 1.25% under the qualifying 30-year rate, making it especially competitive.
With spring homebuying season underway, Rob says now is a key time to explore options—whether buying or refinancing.
For more information, Lafcu’s details are listed below, and we’ll also have them on-air tonight.
For more information, visit www.lafcu.com/ .
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