Adjustable Rate Mortgages (ARM) are a great option for many borrowers. If you are looking for a low monthly payment and a low introductory interest rate, an ARM might be the right choice for you.
Today's ARMs come with built in protections e.g. interest rate limits (caps) and refinance options. For the right borrower, an adjustable rate mortgage offers a number of benefits over a fixed rate mortgage, a low monthly payment is just one of them.
If you answered "yes" to any of these questions, an ARM loan might be right for you! With an adjustable rate mortgage you'll get one of the lowest interest rates available while also saving thousands of dollars over a traditional fixed-rate mortgage during the initial fixed-rate period. Afterwards, the interest rate may adjust once per year.
At RANLife we offer several ARM programs designed to help you achieve your financial goals both now and in the future. Call us or fill out an application online.