In general, the rates on adjustable-rate mortgage loans are lower. The payment of principle and interest is divided over 30 years although the rate is only guaranteed for a portion of the term.

For example the principle and interest Payment of a 5 year A.R. M. will be the same for 5 years, then it can change based on pre-determined criteria. Buyers who choose this option should be sure they understand how the possible changes in interest rate will affect their payment.

Your A+ Mortgage Loan Specialist will help you evaluate whether this type of loan will be a good fit for you.

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