Here's how ARMs work: You get a fixed rate for a few years before the mortgage adjusts annually, based on a particular index value. Point is, you either want to sell before your rate increases or refinance your mortgage. But you'll save money upfront because the intro rate is lower than a fixed-rate option.
Key Features of ARMs
Increases the availability of credit if you're looking for a Jumbo Loan
Get a fixed rate for 3, 5, 7 or 10 years before the mortgage becomes adjustable
Ideal if you're planning to sell your home before the low intro rate adjusts upward
If you're ready to take the next step, work with a team that can provide the personal attention you deserve. Our mortgage company has helped over 200,000 borrowers fulfill their dream of home ownership. We'd love to help you too!