Adjustable Rate Mortgages
ARM loans or Adjustable Rate Mortgages generally begin with an
interest rate that is 2-3 percent below a comparable fixed rate
mortgage here and could allow you to buy a more expensive home.
Since ARM loans are easier to sell on the secondary market, lenders
tend to give better PAR pricing for originated loans selling these
the interest rate changes at specified intervals (for example,
every year) depending on changing market conditions; if interest
rates go up, your monthly mortgage payment will go up, too. However,
if rates go down, your mortgage payment will drop also.
are also mortgages that combine aspects of fixed and adjustable
rate mortgages - starting at a low fixed-rate for seven to ten
years, for example, then adjusting to market conditions. Ask your
mortgage professional about these and other special kinds of mortgages
that fit your specific financial situation, Call us today and
we can present all the options for you.
if you would like more information
please give us a call 855-529-5222 24hr a day.