Adjustable Rate Mortgages (often called ARMs) typically last for 15 or 30 years, just like fixed rate mortgages. But during those years, the interest rate on the loan may go up or down. Monthly payments increase or decrease.  You would select this type of loan when you:

  • Plan to stay in your home less than 5 years
  • Don't mind having your monthly payment periodically change (up or down)
  • Comfortable with the risk of possible payment increases in future
  • Think your income will probably increase in the future

By carefully considering the above factors and seeking our professional advice, you should be able to select the one loan that matches your present condition as well as your future financial goals.