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Star Loan Services offers low rate adjustable rate loans. These types of loans are at a fixed interest rate for the first three, five or seven years. After the 'locked' period is over, your interest rates begin to adjust.

Compared to fixed rate loans, ARMs offer low interest rates, in exchange for a little bit of uncertainty.

Types of adjustable rate mortgages:
Two of our more popular ARM loans are option and traditional loans.

Option ARM: This loan program is an adjustable rate mortgage with added flexibility of making one of multiple payments on your monthly mortgage. This will allow you to manage your monthly cash flow and budgeting more precisely.

Traditional ARM: This type of loan is exactly how is sounds...nothing elaborate, just an initial lower interest rate and an annual adjustment after the initial "lock" period.

Interest Only Loans: Allow you to pay only the interest of the loan for the ARM period. After the ARM period expires, you will have to pay the interest plus the premium.

When would I apply for an adjustable rate mortgage loan?
 - Utilizing a second mortgage in the form of an ARM if you are looking to save on PMI as a result of taking out a jumbo loan that is more than 80% of the home's value.
 - If you intend on selling your home before the ARM rate expires.
 - You don't have a problem with not knowing what your monthly payments are going to be.

Please contact us if you need help determining if an adjustable rate loan is right for you. We also suggest you use the adjustable rate vs. fixed rate calculator to help you determine what you can expect as your monthly payments for each loan type.




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