Adjustable-Rate Mortgages
Opening the Doors to Home Ownership
An adjustable-rate mortgage (ARM) is a loan term option with interest rates that can change periodically after the initial fixed-rate period. After this introductory period, monthly payments are susceptible to increases or decreases based on market fluctuations, which can also affect the monthly payment.
Lower Initial Monthly Payments
Possibility to Qualify for Higher Loan Amounts
Rates and Payments May Decrease Based on the Index Rate
Is an ARM Right for You?
An ARM might be the right option for you if you plan on moving within 7 years since they feature lower introductory interest rates. If interest rates are expected to fall, a homeowner could potentially reduce their monthly payments with the lowered interest rates.
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* This article does not constitute tax or financial advice. Please consult a tax and/or financial advisor regarding your specific situation.
**Subject to underwriting review and approval.