Adjustable Rate Mortgages
Get a No Obligation quote on an ARM—Potentially Save Thousands!
The Lowdown on Adjustable Rate Mortgages…
Discover the Benefits of an Adjustable Rate Mortgage
An Adjustable Rate Mortgage (ARM) differs from fixed-rate mortgages in that the interest rate changes periodically throughout the loan term. While the initial interest rate on an ARM is typically lower than that of a fixed-rate mortgage, it’s important to understand how this can impact your payments over time.
ARMs can be a good option to consider if:
- You plan to own your home for only a few years.
- You expect an increase in future earnings.
- The prevailing interest rates for fixed mortgages are too high.
We’re here to simplify the process with the tools and expertise you need, starting with our No Obligation Adjustable Rate Mortgage Qualifier.
We’ll help you clearly see the differences between loan programs, allowing you to choose the right option for you, whether you’re a first-time homebuyer or a seasoned investor.
The Adjustable Rate Mortgage Loan Process
How Our Home Loan Process Works:
- Complete Our Simple Adjustable Rate Mortgage Qualifier: Start by filling out a straightforward application to assess your eligibility.
- Receive Tailored Options: Based on your unique criteria and situation, we’ll provide you with customized loan options to consider.
- Compare Mortgage Interest Rates and Terms: Review and compare various mortgage offers, focusing on interest rates and terms to find the best fit.
- Choose the Offer That Best Fits Your Needs: Select the mortgage option that aligns with your financial goals and preferences.
Understanding Adjustable-Rate Mortgages (ARMs)
Many homeowners choose adjustable-rate mortgages primarily for the lower initial payments. These loans typically start with a fixed interest rate for a specific period (often 5, 7, or 10 years) before transitioning to a variable rate that can change periodically.
When the fixed period ends, homeowners usually have a few options:
- Refinance the Loan: Most homeowners refinance their ARM into another adjustable-rate mortgage or switch to a fixed-rate mortgage to secure more stable payments.
- Sell the Home: Some homeowners may decide to sell their property instead of dealing with the adjustable rate.
- Continue with the Adjustable Rate: If they are comfortable with potential fluctuations, they may choose to stay with the adjustable rate and adjust their budget accordingly.
While ARMs can provide initial savings, it’s essential to consider the long-term implications of the variable interest rate when making your decision.
- Adjustable Rate Mortgage (ARM)
- Conforming Loans
- Jumbo & Super Jumbo Loans
- Terms from 5 to 30 Years
