Adjustable Rate vs Fixed Rate
Adjustable Rate Mortgage (ARM) loans are typically available at a lower rate than fixed rate loans because the rate will be adjusted at predetermined intervals over the life of the loan.
An ARM may be a good choice if you do not intend to be in a home for several years or if you believe rates will not be rising soon or if you anticipate a significant financial event in the relative short term. We can assist you in determining if an ARM loan is best for your circumstances.