About Adjustable-Rate Mortgage Options
An ARM is an Adjustable Rate Mortgage. Unlike fixed-rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically. The initial interest rate of an ARM is lower then that of a fixed-rate mortgage, consequently, an ARM maybe a good option to consider if you plan to own your home for only a few years; you expect an increase in future earnings; or, the prevailing interest rate for a fixed mortgage is too high.
We’re here to make it easier, with tools and expertise that will help guide you along the way, starting with our Adjustable-Rate Mortgage Qualifier.
ARMs Aren’t What They Used To Be
Today’s Adjustable-Rate Mortgages Are A Lot Different Than They Were In The Past. And they may be the best choice for your purchase or refinance:
ARMs are smarter:
- Most people only stay in their mortgage for 5 to 7 years. Why not go for the lower rate?
- With an ARM, more of your payment goes toward the principal, so you pay down your mortgage faster
ARMs are safer:
- ARMs no longer feature pre-payment penalties, so you can easily refinance
- You’ll never have to worry about a big balloon payment
ARMs can save you money:
- A lower rate means a lower payment, which means more cash in your pocket each month
Lets talk about your ARM options. Complete our simple Adjustable Rate Mortgage Qualifier