A 5/5 Adjustable Rate Mortgage may be a good choice if you:
Want to maximize your buying power
Minimize or eliminate your down payment
Greatly reduce your closing costs and PMI premiums
Want to keep your payments lower during the first five years of your loan
Plan to move or payoff your mortgage within the next ten years
If, in the coming years, you expect your income to increase significantly
5/5 ARM
Best Choice If:Seeking lowest initial rate and closing costs combination.
Advantages:Lowest initial monthly payment and closing costs option. Rate only subject to change once every 5 years after initial fixed period compared to annually on most ARM products.
Disadvantages:Rate is not fixed for the entire loan term.
5/5 ARM - 100%
Best Choice If:No down payment required. Combination of low rate, payment, and closing costs.
Advantages:Zero down payment option greatly minimizes the need for out of pocket expenses. Rate only subject to change once every 5 years rather than annually on most ARM products.
Mortgage Rates
The Loan Consultant feature determines the products and rates that match your needs.
Ready to Start?
To apply for your easy online loan, all you have to do is answer a few simple questions about yourself, your property and your income, debts and assets.
