An Adjustable Rate Mortgage (ARM) is ideal if you are looking for lower monthly payments initially. After the initial loan period, your rates can adjust based on a number of factors. 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, and 7/1 terms
- Lower monthly payments
- Online tax statements
- Make payments over the phone or online