The Lowdown
on Adjustable Rate Mortgages...
Our Adjustable Rates are Low & Our Process is Quick & Painless
Unlike Fixed Rate Mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an Adjustable Rate Mortgage (ARM) will change periodically. In a rising rate environment, borrowers who choose this strategy may benefit from a lower starting point than they would otherwise receive going with a fixed rate mortgage.
In the right situation, an ARM may be a good option to consider if you plan to own your home for a shorter period. Additionally, an ARM strategy may be beneficial in instances where the borrower is expecting an increase in their income over the near future.
No matter your financial situation, we’re here to make it a whole lot easier with tools and expertise that will help guide you along the way. One of those tools is our Adjustable Rate Mortgage Qualifier. Answering a few questions helps us advice and educate you on your available options.
We'll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you're a first-time home buyer or a seasoned investor.
The Adjustable Rate Mortgage Loan Process
Here's how our home loan process works:
- Complete our simple Adjustable Rate Mortgage Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
Rate
Mortgage
Do I Qualify?
Most ARMs include a fixed period for anywhere from 3 to 10 years. At the point the fixed term expires, the interest rate becomes variable, or adjustable, and the homeowner has a range of options available such as continuing to pay as the rate adjusts, refinancing into another ARM, opting for a fixed rate mortgage, or they can sell the home outright.
Most homeowners get into adjustable-rate mortgages for the lower initial payment, and then usually refinance the loan when the fixed period ends.
