It's like a house-warming gift for your finances
There's a lot that goes into your home and family life. If you need some financial flexibility, consider an adjustable-rate mortgage. Lower initial rates lead to reduced monthly payments for a set number of years.
- 3/1, 5/1, 5/5, 7/1, 10/1 ARMs available
- Rates adjust after initial term
- No prepayment penalty
- Conforming and jumbo loans
- Use for primary residence, second home, or investment property
- Adjustable-rate mortgages are a good choice if you plan to move before the initial period ends or you anticipate your household income rising in the future
An adjustable-rate mortgage - often referred to as an ARM - can potentially reduce your payments by hundreds of dollars a month in your first few years of home ownership.