Adjustable Rate Mortgage Loans with Solano & Associates

Get in touch with a Qualified Solano & Associates Loan Officer today. Let’s discuss how you can benefit from a low Adjustable-Rate Mortgage (ARM). As the economy recovers, rates for Fixed-Rate Mortgage loans will continue to rise. Now is an incredible time to take advantage of the low start rates available with Adjustable Rate Mortgages (ARMs).

The initial term of an ARM loan is fixed for 5, 7, or 10 years, which fits well for homeowners who plan to sell or refinance before this initial period is over. With good planning, an Adjustable Rate Mortgage offers the lowest rates available and ends up being the greatest option for those borrowers who want to see a reduction in their mortgage payments altogether.

What are the most obvious benefits of an adjustable rate mortgage?

• ARMs offer the lowest interest rates available during the initial fixed interest rate period
• Borrowers can qualify with a lower interest rate, meaning you can qualify to borrow more
• Fixed-Rate Start periods vary between 5, 7 or 10 years

Adjustable rate mortgages are fixed for periods of five to ten years. After that period, your interest rate will fluctuate depending upon market conditions at the time, either going up or going down.