Adjustable-Rate Mortgage (ARM)
If you plan to sell your home or refinance within a few years, an Adjustable-Rate Mortgage (ARM) could be a smart choice. ARMs typically start with lower interest rates, helping you enjoy smaller monthly payments during the initial period before the rate adjusts.
Enjoy Lower Rates And Flexibility With An Adjustable-Rate Mortgage
During the initial fixed-rate period, you benefit from reduced monthly payments and lower interest costs. These early savings allow you to pay down your principal faster. When the adjustment period begins, you can choose to refinance or transition to a fixed-rate mortgage for long-term stability.
To Qualify For an Adjustable-Rate Mortgage Loan (ARM), You'll Need to Meet a Few Basic Criteria:
- • The Property Must Be Your Primary Or Secondary Residence (Not An Investment Home).
- • A Minimum Credit Score Of 620 Is Typically Required.
- • Your Debt-To-Income (DTI) Ratio Should Be 50% Or Lower.
- • Be Prepared For Standard Closing Costs And Associated Fees.
For a detailed breakdown of eligibility and terms, our loan specialists are here to guide you every step of the way.
Estimate And Explore
Discover how much you'll pay or how much you could potentially save.
Frequently Asked Questions
Common questions about Adjustable-Rate Mortgage Loans:
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