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Adjustable Rate Mortgages (ARM)

Best for:
Buyers who expect to move (or refinance) before or shortly after their first rate adjustment.

What it is:
Unlike fixed-rate mortgages, adjustable rate mortgages (ARM) have fluctuating rates. Your interest rate is fixed for a specific period. However, the rate may change depending on the market. Which means that your monthly mortgage payments could increase or decrease. In many cases, ARMs come with rate caps that limit how high the rate can be or how the payments can change.

ARM Pros and Cons

Interest rate or the fixed-rate portion is usually lower than a 30-year fixed rate.
Flexibility – ARMs may be a good option if you plan to move or pay off your mortgage in a few years.
Payments could decrease if interest rates fall.


Payments could increase if rates rise.
ARMs are a complex loan that have rules, fees, and structures not found in other programs.

Unsure which mortgage program will best fit your needs? contact us and one of our home loan advisors will help find a program that best fits your unique situation.

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