Adjustable-Rate Mortgage Basics

Adjustable-Rate Mortgage (ARM) Adjustable-rate mortgages are those in which the interest rate is altered periodically during the life of the loan.  For most ARMs, the rate  is fixed initially, commonly for one, three or five years, and adjusts for the remaining years.  ARMs require knowledge and attention on the part of the borrower. Advantages Monthly … Continue reading Adjustable-Rate Mortgage Basics