Consumers Guide To Adjustable Rate Mortgages

www.drewmortgage.com | 877-949-3739 NMLS ID 2856

What is ARM?

Adjustable Rate www.drewmortgage.com | 877-949-3739 Mortgage

Adjustable-rate mortgage is a home loan where an interest rate varies according to market prices.

There are many varying types of ARM loans, from 1 year to 10 years, with almost all being amortized over a 30-year period.

NMLS ID 2856

Types of Adjustable Rate Mortgage

A variety of options are available for this type of loan: ● ● ●

10/1: A fixed rate for 10 years.

7/1: A fixed interest rate for 7 years.

1 Year: A fixed interest rate for 1 year.

NMLS ID 2856

Benefits of Adjustable Rate Mortgage

Adjustable rate mortgage benefits include: ● ● ●

Lower Payment Initial Fixed Rate Lower Adjustable Rates

NMLS ID 2856

How does Adjustable Rate Mortgage work?

ARM loans have a changing interest rate that differ based on market conditions.

These rates are subject to a maximum or “Cap� Rate that limits how much the rate can rise during each adjustment.

NMLS ID 2856

Considering Adjustable Rate Mortgage

Studying your goals and financial constraints is the best way to understand whether this type of loan is the best option for you.

Buyers must carefully research and inform themselves before picking an option, to avoid making the wrong choice.

NMLS ID 2856

Contact Expert Mortgage Lender

Hiring an expert to help you along the way will boost your chances of making a wise and informed decision. Drew Mortgage Associates in Central Massachusetts help their clients in understanding which loan fits their needs best!

NMLS ID 2856

Drew Mortgage Associates

Address: 196 Boston Turnpike Road Shrewsbury, Ma 01545 Phone: 508-753-1656 Toll Free: 877-949-3739 Fax: 508-756-3646 Website: www.drewmortgage.com

NMLS ID 2856