We offer adjustable-rate mortgage (ARM) loans with multiple term options to choose from. An adjustable rate mortgage provides the borrower with a lower initial payment, yet carries a degree of uncertainty. An ARM loan will temporarily lock into a rate at the time of closing. After the initial lock period ends the rate will adjust for the remaining life of the loan, depending on market rates at that time. Adjustable rate mortgages allow borrowers to take advantage of lower interest rates without refinancing, however they should always prepare for rate increases as well. If you are considering a refinance or a move in the near future, an ARM loan may be a great option for you as the lower initial rates can offer a cheaper route for borrowers who don’t plan on staying in one place for long.
