Call a Bay Equity Loan Officer today to discuss how you can benefit from a low adjustable rate mortgage. As the economy recovers, rates for fixed term loans will continue to rise. Take advantage of the lower start rates available with adjustable rate mortgages (ARM). The initial term of the loan is fixed for 5, 7, or 10 years, which fits well for homeowners who plan to sell or refinance before this initial period is over. With good planning, an Adjustable Rate Mortgage offers the lowest rates available and is a great option for those who want to reduce their mortgage payments.
What are the benefits of an adjustable rate mortgage?
Adjustable rate mortgages are fixed for periods of five to ten years. After that period, your interest rate will either go up, or go down depending on market conditions at that time.