An adjustable-rate mortgage (ARM) loan is exactly as it sounds: a type of mortgage loan with an interest rate that can fluctuate and change based on the current market and indexed rates. ARM Loans generally offer lower initial rates and monthly payments when compared to fixed rate products. ...
About ARM rates The Preferred Rewards program is our way of rewarding you for what you already do. Preferred Rewards members may qualify for an origination fee or interest rate reduction based on your eligible tier at the time of application. Depending on your tier, you may be required to en...
How long does the whole loan process take? See all home mortgage FAQs> Adjustable-rate loan basics When getting a mortgage, be sure you understand what those rates really mean. APR vs. interest rate Find out what you need once you’ve found the right home ...
For adjustable-rate mortgage (ARM) loans, monthly payments are influenced based on fluctuating index rates, so you always end up paying a fair fee. Fluctuating interest rates mean that at times you may have higher monthly payments, but if interest rates trend lower, you may pay less than you...
Make sure you understandhow mortgage rates workso you can compare different mortgage loan types with confidence. 3. Adjustable-rate loans An adjustable-rate mortgage (ARM) is a loan where the interest rate changes during the life of the loan. Initially, your rate may be lower than other types...
Popular loan programs Alaska 30 year fixed mortgage rates | Alaska 15 year fixed mortgage rates | Alaska 10 year fixed mortgage rates | Alaska 20 year fixed mortgage rates | Alaska 1 year ARM rates | Alaska 3/1 ARM rates | Alaska 5/1 ARM rates | Alaska 7/1 ARM rates | Alaska 30 ye...
Get today's rates on 30-year, 15-year and 5/1 ARM mortgages, new construction loans and more. SouthCoast, Massachusetts & Rhode Island.
Learn more:Compare ARM rates Other types of home loans In addition to these common kinds of mortgages, there are other types you might encounter when shopping around for a loan: Construction loans If you want to build a home, you can’t use a regular mortgage to finance it (as there’s...
Adjustable-Rate Mortgage (ARM) For a lower introductory rate With an ARM, you may be able to qualify for a larger loan amount with a low fixed rate for the initial years before the rate adjusts. We offer a variety of options to help you get into the home you want. Rates ...
Adjustable-rate mortgages aren’t for everyone. Yes, their favorable introductory rates are appealing, and an ARM could help you to get a larger loan for a home. However, it’s hard to budget when payments can fluctuate wildly, and you could end up in big financial trouble if interest rat...