Request
1 Year ARM Rates
Use the rate survey at the top of this
page to find mortgage lenders and brokers
offering 1 year adjustable rate mortgages
in your area.
What
is a 1 Year ARM and How Does it Work?
- Many 1/1 ARM programs are 30 year amortizing
mortgages where there is a low introductory
rate for the first year of the loan. After
the first year passes, the loan then begins
to adjust up or down according to the
loan's caps, margin and the index which
the loan is tied to.
- There are many times when 1 year ARM
rates are equal to or even higher than
longer term ARM products or fixed mortgage
rates. Unless there is a major positive
difference between 1 year adjustable rates
and that of other more stable mortgage
products, a consumer may want to think
long and hard about taking on the risks
of this type of loan.
Be sure to consult with a mortgage professional
to discuss the potential risks and rewards
or this or any other adjustable rate mortgage
program.
Note: If you are a mortgage lender or broker
that offers ARM programs and would like
to advertise on BurlingtonMortgage.biz,
please call 910-547-6910.
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