Adjustable Rate Mortgages (ARM)
Get a fast quote on an ARM and potentially save thousands over the life of your loan.
Do I Qualify?
Many homeowners choose an ARM to enjoy a lower initial interest rate and payment during the fixed period. After that period ends, the rate becomes variable. At that point, homeowners often refinance into another ARM, switch to a fixed-rate loan, or sell their property.
Why Choose an ARM?
An ARM (Adjustable Rate Mortgage) offers an interest rate that changes over time, unlike fixed-rate mortgages that stay constant for the full term. Because the initial rate on an ARM is usually lower than a fixed rate, it can be appealing if you plan to stay in the home for a few years, expect your income to rise, or anticipate that fixed rates will drop.
We make the process easier with tools and expertise, beginning with our Adjustable Rate Mortgage Qualifier. We’ll help you compare ARM vs fixed-rate options so you can choose what’s best for you.
The average 5/1 ARM rate is currently around 5.96%, compared to higher fixed mortgage rates.
Lenders like U.S. Bank are offering 10/6 ARMs with rates near 6.375% for qualifying borrowers
The Adjustable Rate Mortgage Loan Process
- Check Eligibility:Review income, credit score, and debt-to-income ratio.
- Choose a Lender:Compare lenders offering ARM loans and their terms.
- Get Pre-Approved:Submit financial details to receive a pre-approval letter.
- Find a Home: Search for a property within your price range.
- Submit Application: Complete the loan application with required documents.
- Rate Adjustment Terms:Understand the initial fixed period and adjustment intervals.
- Loan Processing:Lender reviews your application and approves the loan.