Adjustable Rate / ARMs
- Would you like to pay a much lower mortgage than a fixed rate loan?
- Do you plan to sell your home or refinance soon?
- Do you need to use your mortgage savings for other debt obligations?
If you answered yes to any of the questions above, adjustable-rate mortgages (ARMs) might be the right option for you. ARMs have interest rates that change periodically based on an underlying index, which reflects the cost of borrowing. Typically, these loans are for homebuyers that plan to sell their home in several years or would like lower payments during the initial payment period.
There are 5, 7 and 10-year ARMs available.
The payments will depend on your financial situation and the current market interest rates.
Contact me to discuss your options.