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Adjustable Rate Mortgages

ARMs boost your buying power with low rates and flexible terms.

What is an ARM loan?

An Adjustable Rate Mortgage (ARM) is a type of mortgage with an interest rate that changes throughout the life of the loan. The interest rate on an ARM can change at the specified intervals following an initial "fixed" period.  For example, a 5/6-month ARM interest rate is fixed for 5 years and then can adjust at the end of the initial 5 year term and every 6 months after that for the remaining term of the loan.

We offer a wide variety of ARMs to fit your unique needs, including 5/6-month, 7/6-month and 10/6-month ARMs.

Advantages of an Adjustable Rate Mortgage 

Lower Rates

ARMs generally have the lowest possible mortgage rate. In fact, 7/6-month ARM rates may have significantly lower rates than a 30-year fixed rate mortgage. The 7/6-month ARM rate would be fixed for seven years, potentially saving you in interest expense that you could use, for example, to pay off credit card debt, or add to your retirement savings.

Save Money if Selling Soon

If you plan to sell your home before the loan adjusts, you may save money versus a fixed-rate loan. For example, if a job transfer is likely, an ARM would be a better solution than a higher rate, 30-year fixed-rate mortgage. The lower initial rate of an ARM can be a good strategy for mobile professionals, homeowners who plan to upsize or downsize, and anyone who will live in their home for the short term.

Higher Loan Amount

By applying for an ARM, you may qualify for a higher loan amount and can buy a more valuable house.

Looking for an Adjustable Rate Mortgage?