Adjustable-Rate Mortgages (ARMs)
Comparing Mortgages: Your Mortgage Checklist
To compare one adjustable-rate mortgage (ARM) with another or with
a fixed-rate mortgage, you need to know about indexes, margins,
discounts, caps, negative amortization, and convertibility. You
need to consider the maximum amount your monthly payment could increase.
Most important, you need to compare what might happen to your mortgage
costs with your future ability to pay. Asking lenders to fill out
this checklist is a good way to get the information you need to
Print this mortgage checklist for your convenience, and ask
your mortgage lender to help you complete it.
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not legal advice and should not be interpreted as legal advice.
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information in summary form. This information may not be comprehensive,
is subject to change, and may not apply to all individual circumstances.
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