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Adjustable Rate Mortgages

An Adjustable Rate Mortgage may be a good 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 stay move into a different home within the next ten years
  • Plan to pay-off your mortgage within the next 10 years
  • If, in the coming years, you expect your income to increase significantly

10/1 Year ARM

Best Choice If:

You want a loan with: .
  • Low initial payments
  • The benefits of both a Fixed and ARM product.
    		• Advantages:

  • Interest rate stays fixed for first 10 years. Adjusts annually thereafter
  • Allows for higher loan amount qualification and enhanced buying power.
    		• Disadvantages:

  • Interest rate and monthly payments adjust frequently.
  • Interest rate can rise above the current fixed rates over time.
    		• Sample Payment:

  • "Monthly Mortgage Payment (P&I)" assumes a loan amount of $100,000 with a down payment of 20%.

    • 10/1 Year ARM - No Points Option

    Best Choice If:

    You want a loan with: .
  • Low initial payments
  • The benefits of both a Fixed and ARM product.
    		• Advantages:

  • Interest rate stays fixed for first 10 years. Adjusts annually thereafter
  • Allows for higher loan amount qualification and enhanced buying power.
    		• Disadvantages:

  • Interest rate and monthly payments adjust frequently.
  • Interest rate can rise above the current fixed rates over time.
    		• Sample Payment:

  • "Monthly Mortgage Payment (P&I)" assumes a loan amount of $100,000 with a down payment of 20%.

    • 3/1 Year ARM

    Best Choice If:

    You want a loan with: .
  • Very low initial payments
  • The benefits of both a Fixed and ARM product.
  • Payments that adjust up and down with market movements.
    		• Advantages:

  • Interest rate stays fixed for first 3 years. Adjusts annually thereafter
  • Allows for higher loan amount qualification and enhanced buying power.
    		• Disadvantages:

  • Interest rate and monthly payments adjust frequently.
  • Interest rate can rise above the current fixed rates over time.
    		• Sample Payment:

  • "Monthly Mortgage Payment (P&I)" assumes a loan amount of $100,000 with a down payment of 20%.

    • 3/1 Year ARM - No Points Option

    Best Choice If:

    You want a loan with: .
  • Very low initial payments
  • The benefits of both a Fixed and ARM product.
  • Payments that adjust up and down with market movements.
    		• Advantages:

  • Interest rate stays fixed for first 3 years. Adjusts annually thereafter
  • Allows for higher loan amount qualification and enhanced buying power.
    		• Disadvantages:

  • Interest rate and monthly payments adjust frequently.
  • Interest rate can rise above the current fixed rates over time.
    		• Sample Payment:

  • "Monthly Mortgage Payment (P&I)" assumes a loan amount of $100,000 with a down payment of 20%.

    • 5/1 Year ARM

    Best Choice If:

  • Very low initial payments
  • The benefits of both a Fixed and ARM product.
    		• Advantages:

  • Interest rate stays fixed for first 5 years. Adjusts annually thereafter
  • Allows for higher loan amount qualification and enhanced buying power.
    		• Disadvantages:

  • Interest rate and monthly payments will adjust in the future.
  • Interest rate can rise above the current fixed rates over time.
    		• Sample Payment:

  • "Monthly Mortgage Payment (P&I)" assumes a loan amount of $100,000 with a down payment of 20%.

    • 5/1 Year ARM - No Points Option

    Best Choice If:

  • Very low initial payments
  • The benefits of both a Fixed and ARM product.
    		• Advantages:

  • Interest rate stays fixed for first 5 years. Adjusts annually thereafter
  • Allows for higher loan amount qualification and enhanced buying power.
    		• Disadvantages:

  • Interest rate and monthly payments will adjust in the future.
  • Interest rate can rise above the current fixed rates over time.
    		• Sample Payment:

  • "Monthly Mortgage Payment (P&I)" assumes a loan amount of $100,000 with a down payment of 20%.

    • 7/1 Year ARM

    Best Choice If:

    You want a loan with: .
  • Low initial payments
  • The benefits of both a Fixed and ARM product.
    		• Advantages:

  • Interest rate stays fixed for first 7 years. Adjusts annually thereafter
  • Allows for higher loan amount qualification and enhanced buying power.
    		• Disadvantages:

  • Interest rate and monthly payments will adjust in the future.
  • Interest rate can rise above the current fixed rates over time.
    		• Sample Payment:

  • "Monthly Mortgage Payment (P&I)" assumes a loan amount of $100,000 with a down payment of 20%.

    • 7/1 Year ARM - No Points Option

    Best Choice If:

    You want a loan with: .
  • Low initial payments
  • The benefits of both a Fixed and ARM product.
    		• Advantages:

  • Interest rate stays fixed for first 7 years. Adjusts annually thereafter
  • Allows for higher loan amount qualification and enhanced buying power.
    		• Disadvantages:

  • Interest rate and monthly payments will adjust in the future.
  • Interest rate can rise above the current fixed rates over time.
    		• Sample Payment:

  • "Monthly Mortgage Payment (P&I)" assumes a loan amount of $100,000 with a down payment of 20%.

    • Lot 5/1 Year ARM

    Mortgage Rates

    The Loan Consultant feature determines the products and rates that match your needs.

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