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Adjustable Rate Mortgage

Take advantage of lower rates with an Adjustable Rate Mortgage

The opportunity for saving

If you anticipate a significant increase in your income or property value in the next several years, plan on staying in your home short-term, or would like to significantly lower your payment, an ARM might be right for you. As the name implies, Adjustable Rate Mortgages (ARMs) have interest rates that change at a pre-determined frequency. Federally insured FHA ARMs are also available!

Why get an adjustable rate mortgage?

Hybrid ARMs

'Hybrid ARMs' are very popular, featuring an initial fixed-rate portion, which then changes to an adjustable rate for the remainder of the loan. They are typically represented as a 3/1, 5/1, 7/1, or 10/1. The first number indicates the time (in years) that the initial rate is fixed. The second number indicates how often the rate can adjust after the initial change.

Interest rate caps

What happens after the fixed-rate period ends? Once your loan enters its adjustable-rate period, interest rate caps are put in place. They identify the maximum amount your rate can increase, both at the end of each adjustment period, and over the life of the loan as a whole. Contact one of our licensed mortgage consultants today for details, and find the right loan for you!

What our customers are saying

I just had my loan approved today and I am extremely happy with the service I received during the entire process. Both the Account manager (Steve) and Mortgage Consultant (Jessie) were very helpful and returned my calls and emails promptly. I am very happy I chose LoanDepot even though I did not know much about them in the past. I will definitely recommend LoanDepot to my friends and colleagues.

Mehregan N gave American Quest





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