Adjustable Rate Mortgages
We offer a variety of Adjustable Rate Mortgages (ARMs), including 3/1, 5/1, 7/1 and10/1 ARMs. Typically adjustable rate mortgages begin at a lower interest rate, which can help you qualify for a larger mortgage loan. The 'low' introductory rate is used to calculate the mortgage payment for a specified period of time (3, 5, 7 or 10 years, depending on which adjustable rate mortgage you choose). Once this introductory period is over, the interest rate adjusts periodically and the payments may move up or down.
Consider an adjustable rate mortgage if:
- You expect to live in a home for a short time period, respective to the term of your adjustable rate mortgage
- You're prepared to handle an increase in payments once the introductory period ends
- You're trying to qualify for a larger mortgage loan amount
Additional Loan Products