You Are Considering A 3/5 Arm. What Does The 5 Represent?

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PDF Consumer Handbook on Adjustable-Rate Mortgages – Consumer Handbook on Adjustable-Rate Mortgages | 7 Loan Descriptions Lenders must give you writt en information on each type of ARM loan you are interested in. The infor-mation must include the terms and conditions for each loan, including information about the index and margin, how your rate will be calculated, how

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When you begin considering your mortgage options, one of the loans you might run into is the 5/1 ARM. This is a loan that starts out with a five-year fixed rate, and then switches to a variable rate, which changes once a year during the remaining years of the loan.

3/1 ARM Mortgage Explained – Financial Web – – A 3/1 arm (adjustable-rate mortgage) is a type of mortgage that is very commonly offered today. If you are considering this type of mortgage, you will want to make sure that you understand exactly what is involved with it. Here are the basics of the 3/1 ARM.

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