Payments increase or decrease on a regular schedule with changes in interest rates; increases subject to limits. Types: Balloon Mortgage - Offers very low rates for an initial period of time (usually 5, 7, or 10 years); when time has elapsed, the balance is due or refinanced (though not automatically). Two-Step Mortgage - Interest rate adjusts only once and remains the same for the life of the loan; ARMS linked to a specific index or margin. Advantages: Generally offer lower initial interest rates; Monthly payments can be lower; May allow borrower to qualify for a larger loan amount.
When staining your deck, be careful not to apply too much of the stain. You don’t want to get surface film on the wood when what you’re really going for is penetration. Also, be sure to keep a wet edge so you don’t get unsightly lap marks. Apply stain in the proper weather conditions. Avoid applying the product in direct sunlight, and be sure there is no chance of rain for the next 24 hours.