An Adjustable Rate Mortgage (ARM) is ideal if you are looking for lower monthly payments initially. After the initial loan period, your rates will adjust to the current market rate. An ARM is best suited for borrowers who plan to own their home for a short period of time or have a significantly larger income in the future.
Even if you already have an adjustable rate mortgage, there may be an opportunity to refinance your ARM loan for a better rate.
- Available in 3/1, 5/1, 7/1 and 10/1 terms
- Lower monthly payments
- Online tax statements
- Make payments over the phone or online