Years of lower monthly mortgage payments? Sound too good to be true? Good news: It's true.
An adjustable-rate loan can help you afford that perfect house or buy you time to rebuild your savings after the big move.
Here's how this works: For an initial term, your loan features a reduced rate. That means lower monthly payments — and more money in hand for remodeling, furniture, family stuff, and anything else your life requires. After the initial period ends, your rate may be adjusted annually for the remainder of the mortgage loan term.
- Competitive rates
- Save money on interest charges for the initial term
- Lower monthly payments might help you qualify for a bigger loan to buy the house of your dreams
- Excellent choice if you think your household income will rise, or you plan to move again before the initial term ends
- ARMs can be used to refinance existing home loans
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