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What is an adjustable-rate mortgage (ARM)? It's a type of home loan with an interest rate that adjusts up or down with other U.S. interest rates. ARM rates.
A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. The loan may be offered at the lender’s standard variable rate/ base rate.
An adjustable rate mortgage (ARM), sometimes known as a variable-rate mortgage, is a home loan with an interest rate that adjusts over time to reflect market conditions.
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The adjustable rate mortgage (ARM) has become a popular home-financing choice. Depending on your unique situation, an adjustable rate mortgage or a fixed.
An adjustable rate mortgage is a loan that bases its interest rate on an index. The index is typically the Libor rate, the fed funds rate, or the one-year Treasury bill. An ARM is also known as an adjustable rate loan, variable rate mortgage, or variable rate loan. Each lender decides how many points it will add to the index rate.
ARM vs. fixed is a big decision for mortgage shoppers. Know the differences between adjustable- and fixed-rate mortgages so you can choose the right loan for you.
An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that the monthly payments can go up or down. Generally, the initial interest rate is lower than that of a comparable fixed-rate mortgage. After that period ends, interest rates – and your monthly payments – can go lower or higher.
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A 5 Year ARM is a loan with a fixed rate for the first five years. After that, it has an adjustable rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first five years, the monthly payment may also change. A 5 year ARM, also known as a 5/1 ARM, is a hybrid mortgage.