Adjustable-rate mortgage loans (ARM) typically offer a lower interest rate during an initial fixed rate period and the loans fees can be much lower than a traditional fixed rate mortgage. An ARM loan may also be a good choice for financing a secondary/vacation home or rental. They might be worth considering if you:
- Plan to stay in the home for only a few years.
- Expect to make more money in the future.
- Want to keep your payments lower during the beginning years of your mortgage.
Adjustable Rate Mortgages @ A Glance
|Credit Limit||Up to $500,000|
|Set Interest Rate Length||Up 5 years
|Terms||Up 30 years*
|First Deed of Trust % Financing||Up to 80%|
|3rd Party Fees||Member Responsible|
|FREE Account Alerts**||YES|
**Standard data fees and rates may apply based on your plan with your mobile carrier.