Take advantage of the lowest rates possible with an Adjustable Rate Mortgage
An adjustable rate mortgage, also referred to as an ARM or variable rate, is a loan option with a low introductory rate. The interest rate with this mortgage will adjust over time (typically 5 to 7 years). Depending on changes in the financial index associated with your loan, your monthly payment will either increase or decrease.
Take advantage of a low introductory mortgage rate
Enjoy low initial monthly payments
Ideal for those planning on moving within a few years
Pay off your mortgage with no penalties