An adjustable rate mortgage or ARM
- is a 30-year loan that has an initial “fixed” period of 3, 5, 7 or 10 years, during which time the interest rate does not change
- offers rates that adjust periodically with the market after initial fixed period is over
- offers an initial rate that is typically lower than conventional fixed rate product
To apply for an adjustable rate mortgage or to get additional information about adjustable rate mortgage loans, please contact us.