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Adjustable Rate Mortgage

Posted Under :  Financial < Services
Total Views :  27
  • Posted By : Maria-John
  • Posted Date : September 3, 2020
  • EmailID : semfairway@gmail.com
  • Rating :
  • Total Votes : 0


Adjustable Rate Mortgage Definition – Providing Flexibility for Homeowners An adjustable-rate mortgage (ARM) is a loan term option with interest rates that can change periodically after the initial fixed-rate period. After this introductory period, monthly payments are susceptible to increases or decreases based on market fluctuations, which can also affect the monthly payment. Adjustable-Rate Mortgage Highlights An ARM loan might be the right option for you if you plan on moving within 7 years since they feature lower introductory interest rates. If interest rates are expected to fall, a homeowner could potentially reduce their monthly payments with the lowered interest rates. Highlights of an adjustable-rate mortgage include: Lower initial monthly payments Possibility to qualify for higher loan amounts ARM Mortgages Rates and Payments may decrease based on the index rate If you are interested in an adjustable rate mortgage, please locate your loan originator.

Location : Madison , Wisconsin , 53718

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