Adjustable-Rate Mortgages (ARMs) – Basic Features Explained

Adjustable-Rate Mortgages (ARMs

Adjustable-rate mortgages (ARMs) stand out as a distinct home loan option, offering a lower initial interest rate compared to fixed-rate mortgages. This initial rate, however, is not permanent and can fluctuate over time with market conditions. ARMs start with an introductory period where the interest rate remains constant, after which it adjusts at predetermined intervals. … Read more