Adjustable Rate (ARMS)
Adjustable Rate Mortgages (ARMs) Let You Start with a Low Rate
Primary Residential Mortgage, Inc.’s adjustable rate mortgages allow you to get into your home with a low monthly home loan payment. This loan program lets you enjoy a fixed rate for the first few years, which then increases every year based on a particular index value.
Who Should Apply for an ARM?
An ARM may be a suitable option if you want to reduce your monthly payments. It’s also great for these situations:
- Cash Flow is Your Priority – A lower mortgage payment required by ARM may help you manage your monthly obligations.
- You Won’t Live in Your Home for Many Years – If you know that you will be moving due to your career or for other reasons, an ARM may be a good option.
Contact us today for any questions regarding ARMs.
Requirements
| Down Payment | Varies, see Fixed Rate or FHA |
| Terms | 3/1, 5/1, 7/1, 10/1 years fixed/year |
| Credit Score | Varies, see Fixed Rate or FHA |
| Mortgage Insurance | Varies, see Fixed Rate or FHA |
| Maximum Loan Limit | Varies, see Fixed Rate or FHA |