When it comes to choosing a mortgage, home buyers have a variety of options. One popular choice is a 5-year adjustable-rate mortgage (ARM). This type of mortgage offers a fixed interest rate for the first five years, followed by an adjustable rate for the remaining...
The 10/1 ARM has an initial fixed rate for 10 years and an adjustable rate for the remaining life of the loan. Your monthly payment could increase or decrease after the first 10 years depending on how the index rate fluctuates. ARM Often Offers A Significantly Lower...
