- The period before the first rate adjustment fits the amount of time you will live in your home
- You want to gain initial monthly budget flexibility
- You will have the financial stability to afford a higher payment later in the loan’s term
- You expect your income to increase and want to extend your initial buying-ability
What do you get with an ARM Loan?
An ARM can offer a flexible option for homeowners. You will start with a lower interest rate than you would with a fixed-product, but it is subject to increase or decrease. This provides more flexibility through lower initial payments and could allow you to afford more home.
An ARM Loan might be the right choice for you, if:
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