Option Arm Loan

Adjustable rate mortgages, or ARM’s remain a popular option for many home buyers. Unlike a traditional fixed rate mortgage, adjustable rate mortgages have interest rates that fluctuate along with interest rates in general. The interest rate on an adjustable rate mortgage is generally tied to a specific interest rate, such as the prime rate.

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For most borrowers, the 30-year fixed-rate mortgage is a better option As of January 2017, only 5.4% of borrowers are choosing adjustable-rate loans, and for good reason.

Interest Rate Mortgage History Interest Rate Trends. Three month, one year, three year and long-term trends of national average mortgage rates on 30-, 15-year fixed, 1-year (CMT-indexed) and 5/1 combined adjustable rate mortgages;historical performance of the National Average Contract Mortgage Rate.

What is an adjustable-rate mortgage, and is it right for you? Learn how to evaluate an ARM vs. fixed-rate mortgage.

Ally Bank offers both fixed rate and adjustable-rate mortgages – both with competitive interest rates and loan options.

What is an Option ARM or Pay Option ARM? Simply, it’s a mortgage loan which allows you a choice of payment methods: fully amortizing over 30 years, fully amortizing over 15 years, interest-only payments, or a payment based on a below-market "payment rate" which fails to cover even the interest which is due.

In 2006, "BusinessWeek" magazine referred to the option ARM as possibly "the riskiest and most complicated home loan product ever created." ARM stands for adjustable-rate mortgage, which means the.

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or ARM, may be the best home loan option for you. There are big differences between an ARM and its counterpart, the fixed-rate mortgage, so make sure you’re solid on the details before you choose..

Know your Mortgage Loan Options. Fixed Rate Mortgage, Adjustable Rate Mortgage, Construction to Permanent, Veterans Administration (VA), or First Time Homebuyer options are available through BB&T Mortgage today. Contact a BB&T Mortgage Loan Officer today.

There are different types of ARMs: hybrid, interest-only, and payment-option. Hybrid ARMs offer a fixed interest rate for the first few years. A common type of.

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

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