An Adjustable Rate Mortgage (ARM) Loan Comes with an Interest Rate That Can Change Periodically

Some ARM loans can come with a really low interest rate, so they may have lower monthly payments, but the lender passes some of their risk of these loans onto the borrower. The Lender can adjust your interest rate over time with changing market rates.

Adjustable Rate Loan Requirements

Like conventional loans, having a good credit score is essential. All lenders will review your debt to income ratio and credit score.

Adjustable Rate Loan Benefits

• It can be easier to qualify for an ARM since the borrow assumes some of the risk usually held by the lender

• Lower monthly payments and interest rates

• Interest rate might decrease over time if the market decreases

• You might qualify for a larger loan amount

• You can opt for flexible payments options

Adjustable Rate Loan Disadvantages

• After your fixed-rate period ends, the interest rate can move up or down based on the index it is tied to. This can cause your monthly payment to increase outside of your budgeted monthly amount

• Buyers may purchase more house than they can afford

• With an unknown payment amount, your monthly budget planning becomes difficult

I will guide you through the various options on the market and help you find the right mortgage for you.

Whether you are a first time buyer, looking to refinance, looking for your dream home, or downsizing an empty nest – put my 34 Years of Industry Experience to work for you.