Adjustable Rate Mortgage (ARM)

armOn these loans the interest rates typically adjust to follow an index such as the LIBOR or the 10-year treasury bill. ARMS are typically fixed for 5, 7, or 10 years and then adjust annually afterward.

  • Lower initial interest rate for people planning to sell within a few years.
  • Increases the credit availability for Jumbo Loan buyers.

General Loan Requirements

Your Down Payment
Varies
See Conventional or FHA

Terms Available
5/1, 7/1, 10/1
(First number is years fixed. Second number is years adjusted.)

Minimum Credit Score
Varies
See Conventional or FHA

Mortgage Insurance
Varies
See Conventional or FHA

Maximum Loan Limit
Varies
See Conventional or FHA