Comparing all your mortgage options can seem overwhelming, especially when considering rates and what is best for you and your family. You may be hearing about adjustable-rate 抵押贷款 (ARM) and are wondering what they are and how they may be able to help you. Keep reading to learn how these compare to a traditional fixed-rate mortgage and what you should consider when looking for the right mortgage.
什么是ARM?
Before we can talk about the main differences, we need to know what an ARM is. An ARM is a mortgage that has an interest rate that adjusts over time based on the market. arm将以较低的利率开始, 然而, 在初始时间框架之后, 汇率将开始改变. When your rate will begin to adjust is determined by the type of ARM you get. 例如, a 7/6 ARM will have a set interest rate for the first 7 years; after that, 利率每六个月调整一次. Adjustable-rate 抵押贷款 do have set intervals to prevent your rate from adjusting all at once and caps for the highest the rate can go. *Arbor Financial提供3/ 6,5 /6和7/6 arm.
What is the Difference Between an Adjustable-Rate and a Fixed-Rate Mortgage?
The main difference between an ARM and a fixed-rate mortgage is the rate adjusting. A fixed-rate mortgage will have the same rate for the life of the loan compared to the ARM, 哪一个会在一段时间后调整. Having a set rate can help homeowners budget for the long term. An ARM also starts at a lower rate than traditional 抵押贷款; this can be helpful if you are looking to pay down the principal more quickly. If rates do fall, an ARM may help you take advantage of lower rates without needing to refinance.
考虑ARM时你可能想问的问题:
- 你打算在你的房子里住多久?
- How often will your rate adjust, and how long will your initial rate be?
- Can you still comfortably afford the payments at the loan cap?
- Is a lower initial payment or a set long term payment more important to you?
Finding out what is the best option for you can be a stressful experience. 我们的友好, knowledgeable mortgage specialists can take the pressure out of 抵押贷款 and help find the best option for you. 向抵押贷款专家咨询!
*须经承销及信贷审批. 可能会有其他限制. 并非所有申请人都符合资格. Programs, rates, terms, and conditions are subject to change without notice.
