Is an ARM right for you?
Get a FREE quote on an ARM loan and find out how much you qualify for.
What is an Adjustable Rate Mortgage? :
An ARM - adjustable rate mortgage - is a home loan with an initial fixed interest rate that changes after a specified period of time depending on current market conditions.
Benefits of an ARM Loan:
- Capability to significantly reduce the cost of your mortgage.
- Perfect for people looking to move or refinance in the next 5, 7 or 10 years.
- Prepayment penalties do not apply so you can pay your mortgage whenever you want.
- Lowest mortgage rate available.
How an ARM works?
- Interest rates are fixed for 5, 7 or 10 years. After this intial period, depending on market conditions, your interest rate can change once per year.
- Your payment will vary based on your situation and the current interest rates when you apply.