An Adjustable Rate Mortgage may be a good choice if you:
- Want to maximize your buying power
- Want to keep your payments lower during the first few years of your loan
- Plan to move into a different home within the next ten years
- Plan to pay-off your mortgage within the next 10 years
- If, in the coming years, you expect your income to increase significantly
Our Loan Consultant can find the loan that's right for you and give you quotes on current interest rates and closing costs. Or select the specific loan program below that interests you to learn more.
10/1 ARM - 30 Year
| Best Choice If:You'd like a longer initial fixed period.
Low monthly payments are important.
Looking to maximize the amount of loan you qualify for.
You plan to stay in the home for less than 10 years. | Advantages:Initial fixed interest rate for 10 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your income to increase over the initial five-year period to cover the change in monthly payment. |
5/1 ARM - 30 Year
| Best Choice If:You'd like a longer initial fixed period.
Low monthly payments are important.
Looking to maximize the amount of loan you qualify for.
You plan to stay in the home for less than 5 years. | Advantages:Initial fixed interest rate for 5 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your income to increase over the initial five-year period to cover the change in monthly payment. |
7/1 ARM - 30 Year
| Best Choice If:You'd like a longer initial fixed period.
Low monthly payments are important.
Looking to maximize the amount of loan you qualify for.
You plan to stay in the home for less than 5 years. | Advantages:Initial fixed interest rate for 7 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your income to increase over the initial five-year period to cover the change in monthly payment. |
10/1 ARM - 15 Year
| Best Choice If:You want:
A longer initial fixed period.
To keep your payments low.
To maximize the amount of loan you qualify for.
To stay in the home for less than 10 years.
The stability of a fixed monthly payment for first 5 years of loan. | Advantages:Initial fixed interest rate for 10 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your payment to increase. |
5/1 ARM - 15 Year
| Best Choice If:You want:
A longer initial fixed period.
To keep your payments low.
To maximize the amount of loan you qualify for.
To stay in the home for less than 5 years.
The stability of a fixed monthly payment for first 5 years of loan. | Advantages:Initial fixed interest rate for 5 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your payment to increase. |
7/1 ARM - 15 Year
| Best Choice If:You want:
A longer initial fixed period.
To keep your payments low.
To maximize the amount of loan you qualify for.
To stay in the home for less than 7 years.
The stability of a fixed monthly payment for first 5 years of loan. | Advantages:Initial fixed interest rate for 5 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your payment to increase. |
HIWAY 97 - 30 Year 5/1 ARM
| Best Choice If:You'd like a longer initial fixed period.
Low monthly payments are important.
Looking to maximize the amount of loan you qualify for.
You plan to stay in the home for less than 5 years. | Advantages:Initial fixed interest rate for 5 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your income to increase over the initial five-year period to cover the change in monthly payment. |
3/1 ARM - 30 Year
| Best Choice If:You'd like a longer initial fixed period.
Low monthly payments are important.
Looking to maximize the amount of loan you qualify for.
You plan to stay in the home for less than 3 years. | Advantages:Initial fixed interest rate for 3 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your income to increase over the initial three-year period to cover the change in monthly payment. |
3/1 ARM - 15 Year
| Best Choice If:You want:
A longer initial fixed period.
To keep your payments low.
To maximize the amount of loan you qualify for.
To stay in the home for less than 3 years.
The stability of a fixed monthly payment for first three years of loan. | Advantages:Initial fixed interest rate for 3 full years.
The rate adjusts annually thereafter.
Allows for higher loan amount qualification and enhanced buying power. | Disadvantages:It's riskier if you don't expect your income to increase over the initial three-year period to cover the change in monthly payment. |
1/1 ARM - 30 Year
| Best Choice If:You want a loan with:
Very low initial payments.
Payments that adjust up and down with market movements. | Advantages:Treasury Indexed ARM Interest and payment adjustment occurs every 12 months.
Low initial rate and payment. | Disadvantages:Interest rate and monthly payments adjust frequently.
Interest rate can rise above the current fixed rates over time. |
1/1 ARM - 15 Year
| Best Choice If:You want a loan with:
Very low initial payments.
Payments that adjust up and down with market movements. | Advantages:Treasury Indexed ARM Interest and payment adjustment occurs every twelve months.
Low initial rate and payment. | Disadvantages:Interest rate and monthly payments adjust frequently.
Interest rate can rise above the current fixed rates over time. |
