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Adjustable Rate Mortgage Loans
Settling into a new home can be a bit overwhelming. With an adjustable-rate mortgage (ARM) your initial interest rate will generally be lower than a fixed-rate mortgage. As times goes on, your interest rate may change depending on fluctuations in the market, thereby increasing or decreasing your monthly payment.
Features
- Lower initial interest rate – typically lower than a fixed rate mortgage
- Rate and payment are fixed for an initial period – typically 7, 10 or even 15 years
- Rates may adjust annually after an initial fixed period, which changes your monthly payments
- Interest rate caps are in place to limit how high the interest rate can go, which lets you know your maximum rate
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111 Wood Avenue South
Suite 200
Iselin, NJ 08830Mailing Address
P.O. Box 1001
Iselin, NJ 08830-1001
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