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  • Adjustable Rate Mortgages

  • * Risk factor is much higher

    * Rates are fixed for a certain number of years and than typically adjust every 12 months after

    * Available loan programs

    3/1 ARM

    5/1 ARM

    7/1 ARM

    10/1 ARM

  • How Adjustable Rate Mortgages Typically Adjust

    * ARMs are typically fixed for 3,5,7, or 10 years in which the interest rate cannot fluctuate.

    * ARMs usually have adjustment caps typically 2% per year up or down, sometimes 5%.

    * ARMs typically adjust based on a financial index like " Treasury " or " Libor "

    * ARMs typically have a margin that cannot change for the term of the loan.

    * The fully indexed rate at Adjustment

         =    

    Index at Adjustment + Margin