A 5/1 Adjustable-Rate Mortgage (ARM) starts with a fixed interest rate for the first 5 years. After that, the rate adjusts annually based on market conditions, giving you flexibility for future payments.
A 5/1 Adjustable-Rate Mortgage (ARM) starts with a fixed interest rate for the first 5 years. After that, the rate adjusts annually based on market conditions, giving you flexibility for future payments.
For the first 5 years, your monthly payments remain stable with a fixed interest rate. Afterward, the rate adjusts yearly, which can increase or decrease your payments depending on the market.
For the first 5 years, your monthly payments remain stable with a fixed interest rate. Afterward, the rate adjusts yearly, which can increase or decrease your payments depending on the market.
Enjoy lower initial interest rates and payments during the fixed period. This makes the 5/1 Adjustable-Rate Mortgage ideal if you plan to move or refinance within 5 years.
Enjoy lower initial interest rates and payments during the fixed period. This makes the 5/1 Adjustable-Rate Mortgage ideal if you plan to move or refinance within 5 years.
This option is perfect for those expecting a short-term stay or those who anticipate refinancing before the adjustable-rate kicks in. It offers short-term affordability and flexibility.
This option is perfect for those expecting a short-term stay or those who anticipate refinancing before the adjustable-rate kicks in. It offers short-term affordability and flexibility.