Adjustable-Rate Mortgage – ARM: An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.
5 1 Loan 5-Year ARM Mortgage Rates. A five year mortgage, sometimes called a 5/1 ARM, is designed to give you the stability of fixed payments during the first 5 years of the loan, but also allows you to qualify at and pay at a lower rate of interest for the first five years.
adjustable-rate mortgage, n. A type of mortgage loan program in which the interest rate and payments may be adjusted as frequently as every month.
Adjustable-Rate Mortgage (ARM). What it is: As you can see, ARMs can have complex implications. Thus, as is the case with any loan,
Adjustable Rate Home Loan Arm Adjustable Rate Mortgage 7 1 Adjustable Rate Mortgage Why You Should Get An ARM – Forbes – Mortgage brokers babble on about 5/1 or 7/1 ARMs with 2/2/6 or 5/2/5 caps. ING Direct recently offered a 5/1 ARM for loans up to $750,000,Variable Rates Mortgages · A fixed rate mortgage is one in which the interest rate is fixed for a period of time – often between 1 to 5 years, although some lenders offer longer terms. With a variable mortgage, the interest rate of the loan fluctuates with.