Adjustable Rate Mortgages (ARM)
An adjustable-rate mortgage (ARM) is a mortgage loan with an interest rate that can adjusted periodically with the markets.
An adjustable rate mortgage or ARM:
- is a 30-year loan that has an initial “fixed” period of 3, 5, 7, or 10 years, during which time the interest rate does not change
- offers rates that adjust periodically with the market after initial fixed period is over
- offers an initial rate that is typically lower than a conventional fixed rate product
To apply for an adjustable rate mortgage (ARM) or to get additional information about adjustable rate mortgage loans, please contact us.