Re: How can mortgage payment be this low?

"John" <[EMAIL PROTECTED]> wrote in message
news:[EMAIL PROTECTED]
> Hi,
>
> I have received some loan solicitations that claim to be able to cut
> my mortgage payment nearly in half (A.R.M. 1.25% start rate/3.87%
> APR). How does this work? Am I gonna pay an arm and a leg for the
> points and costs? What's the catch?

the catch is that its adjustable rate. its tied into the current lending
rate. when the rates go up (which they will), yours will too.