Adjustable rate mortgages are available in a variety of terms. The interest rate is tied to a specific financial index such as the Libor. While the rates are typically somewhat favorable at the time of closing compared to fixed rate mortgages, there are significant risks as the rate can possibly increase over the life of the loan which increases the borrower’s monthly payment. Rates can also decrease depending on market conditions.  

Contact us to learn more about an Adjustable Rate Mortgage and let one of our friendly, experienced loan originators help you choose the right product to fit your needs.