The ARMs are back! We can’t believe it either, but it seems many more are interested in the 5/1 and 7/1 conforming ARM products. Even With rates on the 30 year and 15 year well below 4.75% fixed it seems the attractive rates for the 5/1 arm at a near record 0 point option of [...]
Category | Adjustable Rate Mortgage
5/1 Florida Mortgage ARM In simplest terms a 5/1 ARM (Adjustable Rate Mortgage) is a mortgage loan which will have a fixed rate of interest for the first five years, then the rate of interest will change every year thereafter for the remaining life of the loan. Also note, most ARM loans can be interest [...]
