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.
A+ Mortgage Loan Programs:
- FHA Loans
- Fixed Mortgage Loans
- Jumbo Mortgage Loans
- Private Mortgage Insurance (PMI)
- USDA Loans
- VA Loans