Most individuals spend more time looking for a house than they do evaluating their best mortgage choice. With Duffy's help, having a mortgage can mean having financial security. The following are abbreviated answers to a few mortgage myths.

Low fixed rates aren't always the best.
The 30 year fixed rate has traditionally been the highest rate on any given day. With the recent changes in lending practices and the onset of historically low rates, fixed rates are becoming more competitive with 3 or 5 year ARMs.
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Adjustable Rates (ARM) that work for you.
3 or 5 year ARMs have caps which prevent them from going up more than 2% each year after the fixed period of 3 or 5 years and a lifetime cap that prevents the rate from increasing more than 5 or 6% over the life of the loan. The higher payment in your worst case scenario would, more than likely, be offset by increased cost-of-living pay.
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Decreasing your debt.
The first goal is to become totally debt free except for the mortgage. I am telling you to eliminate you bad debt, credit card, auto, consumer, and increase your good debt - mortgages.
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Retiring with a mortgage payment.
Sounds good but unfortunately, it is impossible to live free. Shortly before you retire you accomplish your dream and finish paying off the mortgage. While you have been living there the property taxes have gone through the roof, Insurance on the home has sky rocketed, and even utility costs have gone up.
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