Adjustable Rate Mortgage
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Discover the Benefits of an Adjustable Rate Mortgage
An ARM is an Adjustable Rate Mortgage. Unlike fixed rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically. The initial interest rate of an ARM is lower than that of a fixed rate mortgage, consequently, an ARM may be a good option to consider if you plan to own your home for only a few years; you expect an increase in future earnings; or, the prevailing interest rate for a fixed mortgage is too high.
We’re here to make it a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Adjustable Rate Mortgage Qualifier.
Flexible Payments
Adjustable Rate Mortgages (ARMs) offer flexibility with initial lower monthly payments, making them an attractive option for borrowers who desire more manageable early payments.
Rate Adjustments
ARMs feature periodic adjustments based on market conditions. Benefit from potential rate decreases, leading to reduced monthly payments, though rates may also increase in the future.
Short-Term Advantage
ARMs are advantageous for short-term homeownership plans, providing financial flexibility without committing to a long-term fixed rate.
Rate Caps
ARMs typically come with rate adjustment caps, ensuring that the interest rate adjustments remain within predetermined limits, providing some level of protection against excessive rate increases.
Initial Lower Payments
With an adjustable rate mortgage (ARM), you can benefit from lower initial monthly payments, allowing for more manageable cash flow in the early stages of homeownership.
Potential Rate Decreases
ARMs offer the potential for interest rate decreases in the future, which can result in reduced monthly payments, providing an opportunity for long-term savings if market conditions are favorable.
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We specialize in helping you understand the distinctions between loan programs, enabling you to select the optimal one, regardless of whether you're a first-time homebuyer or a seasoned investor. Experience a smoother home loan journey with us. Contact Quick Quote today to leverage our expertise and access personalized mortgage solutions.
