The Lowdown on Adjustable Rate Mortgage...
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Why an ARM?
Most homeowners get into adjustable-rate mortgages for the lower initial payment, and then usually refinance the loan when the fixed period ends. At that time, the interest rate becomes variable, or adjustable, and the homeowner would likely refinance into another ARM, something fixed, or sell the home outright.
- Adjustable Rate Mortgage (ARM)
- Conforming Loans
- Jumbo & Super Jumbo Loans
- FHA, VA, & USDA Loans
- Terms from 5 to 30 Years
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