5 Year FHA ARM Rates and Programs
If you are shopping for a mortgage and you do not plan on being in your home for
more than 7 years, then you may want to consider a 5/1 FHA ARM. Like
conventional 5
year adjustable rate mortgages, the 5 Year FHA arm offers a low introductory
rate for a period of five years before adjusting up or down depending upon the
current index rate that the loan is based upon and the loan's margin. 5/1 FHA
arms may the the right fit for homebuyers who are looking to put just a small
percentage down and who are planning on selling their property in a fairly short
period of time (1-7 years). The product might also make sense for people who
believe that they will have a better financial outlook in a few years and who
plan on being able to refinance. Like all adjustable rate mortgage programs, 5
year FHA arm products carry a higher degree of risk than their fixed rate
counterparts. The question is whether that risk worth the reward of potentially
saving some money during the five year window.
5 Year FHA Adjustable Mortgage Rates
To view some current 5 year FHA loan rates, simply use the survey on this page
and select 5 year FHA loans from the product selection form.
Benefits of 5/1 FHA ARM Products:
- May have lower rate and payment for introductory five year period.
- You may be able to put down as little as 3.5% rather than the 5% that is
required with some conventional fixed rate and adjustable rate programs.
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