When it comes to financing your dream home, the type of mortgage you choose can make all the difference. Have you considered an adjustable-rate mortgage? These loans offer unique advantages that could help you achieve your homeownership goals while optimizing your budget.

Adjustable-rate mortgages (ARMs)

With an ARM, you lock your interest rate in for a certain period, and then it adjusts according to your loan structure.

Key features of ARMs:

• Initial fixed-rate period: Enjoy stable payments for a set timeframe, such as five, seven or 10 years.
• Rate adjustments: After the fixed-rate period, your rate adjusts at predetermined intervals, reflecting market trends. Caps limit how much your interest rate and payment can rise over the life of the ARM loan.
• Tailored options: ARMs come in various term structures to suit diverse financial plans. We offer a variety of term options designed for different situations.

ARMs might be the best mortgage choice if you:

• Want to maximize your buying power
• Want to keep your payments lower during the first few years of your loan
• Plan to move into a different home within five to 10 years.
• Plan to pay off your mortgage within five to 10 years.
• Expect your income to increase significantly in the next several years.

Ready to buy a home? Choosing the right mortgage doesn’t have to be overwhelming. We’re here to discuss your situation and help you explore how an adjustable-rate mortgage could work for you.

Reach out to our dedicated team of Real Estate Loan Officers to learn more about ARM options and take the next step toward your homeownership journey.

Contact Us to Learn More

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Posted In:

• Home Education