
[ 10/1 ARM ] [ 7/1 ARM ] [ 5/1 ARM ] [ 3/1 ARM ]
A 3/1 Adjustable Rate Mortgage provides three years at the initial fixed rate, then the rate adjusts every year for the remaining life of the loan. A good choice if you expect to move or refinance in a relatively short period of time. But a much shorter fixed rate period means your interest rate (and therefore monthly payments) may begin to fluctuate after three years.
[ Fixed Rate Mortgages ]
|