Adjustable Rate Mortgages (ARMs)

This is a popular loan with home buyers, especially buyers who intend to live in their home for a short period of time.

The Lender adjusts the Borrower's interest rate and payments at prescribed times and within prescribed limits.
A lower initial interest rate is offered, with adjustment periods generally occuring from one to seven years after the loan is closed and every one to five years thereafter.
There is usually a set limit on the amount of interest rate adjustment allowed annually. There is also, generally, a set limit on the amount of interest rate adjustment allowed, in total, for the lifetime of the loan.

Call 734-260-2660 or email me today to see if an ARM loan is right for you.

Find out what to bring to a mortgage application appointment!

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