Traditional ARMs (Adjustable Rate Mortgages)

Our Traditional ARMs offer you all the features of a fixed-rate loan combined with the value of an adjustable rate mortgage. Start with an initial low fixed rate for 1, 3, 5, 7 or 10 years. The rate will adjust annually. Periodic rate caps determine the maximum allowable increase or decrease when the rate changes, and a lifetime cap determines the maximum allowable increase in rate over the life of the loan.

Advantages

• Gives you set payments for a specific period of time
• Low qualifying rates
• Affordable home financing

Consider a Traditional ARM if:

• You want the stability of a low fixed rate for a set period of time.
• You prefer to keep extra cash on-hand for investing or other needs.
• You’re looking for a fully-amortizing product.
• You intend to stay in the home for 5 years or less.

Variations

• 15 and 30 year terms
• 1, 3, 5, 7 or 10 years initial fixed rate period before adjusting.