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All agents are NOT alike! Find out why the team at JOLIE POWELL REALTYI are top real estate experts. Call us: 631-473-0420.
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Jolie’s Professionalism Impressed Me! I was very impressed with the degree of professionalism and speed with which you handled my listing, Jolie. Audrey Read Quote > View All Quotes >
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Financing Your Home >Watch Your ARMs Length
Most buyers know that first-year interest on Adjustable Rate Mortgages (ARMs) is typically lower than the interest on available fixed-rate mortgages. This makes ARMs easier to qualify for, but also requires that borrowers have some understanding about how such loans work, because there are significant details associated with the low first-year rate.
First, check to see how long the low rates offered on the ARM are guaranteed. After that period of time, the rates can go up two points a year to a typical rate cap of six points over the life of the loan. Lenders will usually require borrowers to qualify for a mortgage loan that is several percentage points above the actual initial rate charged on the ARM. This is intended to keep borrowers from becoming overburdened by debt. Some lenders may charge special fees or caps which can increase the cost of the loan. If you think that an ARM may work for you, it is a good idea to shop around.
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| Q |
Fewer than 2 percent of homeowners build this type of home:
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| A |
Fewer than 2 percent build a custom home; most buy an older home or select from a home builder's menu. |
See More Real Estate Trivia > |
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Jolie Powell CIPS, E-PRO, SRES, CBR, TRC Jolie Powell Realty 406 Main Street Port Jefferson, NY 11777 Direct: : 631-774-2528 Fax: 631-774-2528 Office:: 631-473-0420 JoliePowell@NUMBER1EXPERT.com

Jolie Powell has been a distinguished leader in the Real Estate industry since 1987. Prior to entering the world of Real Estate, Jolie had a successful career in advertising in Manhattan, New York.
Always working to be at the top of her profession, Jolie has received her Certified International Property Specialist (CIPS) designation, Certified Buyer Representative (CBR) and Senior Real Estate Specialist (SRES) designations. Jolie also serves as Director of the Multiple Listing Service of Long Island and now elected as Zone Chairperson for the MLS.
Jolie’s expertise in counseling buyers and sellers brings people together from Long Island and, indeed, from all over the world. Having lived abroad and traveled extensively, Jolie has an excellent understanding of many cultures. As a Cuban-born American, Jolie is fluent in Spanish and communicates well with domestic and international clients, as well as professionals in other fields.
Jolie is proud of the high level of trust she and her clients have established and she looks forward to continue building exceptional client broker relationships.
Proudly selling homes and real estate in Port Jefferson, Stony Brook,
Setauket, Miller Place, Smithtown, Mt. Sinai, Rocky Point, Port Jefferson
Station. North Shore of Long Island.
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