TRADITIONAL ADJUSTABLE RATE MORTGAGES
A Traditional ARM is offers lowered interest rates and an annual
adjustment at the conclusion of the 'locked' period.
Lower interest rates of Traditional ARM loans last for either 3, 4 or
5 years. However, with these types of loans, you can expect your
rates to increase and decrease later. Lifetime and periodic caps
will establish how much your rates will change.
Is a Traditional ARM right for me?
-- If you like to keep extra money available for
investing and/or other needs, but do not want monthly adjustable
(similar to an Option adjustable rate loan).
-- If you plan on moving before your Traditional term expires.
-- If you would like a fully amortizing loan.
us if you need help determining if a Traditional ARM is right