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Adjustable Rate Mortgages

Adjustable-rate mortgages are home loans with interest rates that vary based on changes in market interest rates.

Adjustable-rate mortgages are usually offered with 30-year terms.

The initial rate for an adjustable-rate mortgage is usually slightly lower than for a fixed-rate loan. That initial rate remains constant during an introductory period. As a general rule, the shorter the introductory period, the lower the initial interest rate. Often the fixed introductory period is set based on the length of time the borrower expects to own the home.

After the introductory period expires, the interest rate is subject to adjustment at predetermined intervals—usually every six months. Rate adjustments are based on market interest rates, but adjustment caps limit how much an interest rate can change in a specified time period.

Often, adjustable-rate mortgages offer borrowers the option of an interest-only loan for a fixed period of time. This results in a lower payment for that period.

Adjustable rate mortgages may be a good choice if you don’t plan to own the home for a long period of time, or if interest rates are high and expected to come down.

We can tell you more about adjustable-rate mortgages.


What Our Customers Say

I wanted to take a quick moment and let you know about my experience with one of your associates, Ruth Falcone. My wife and I started out looking at options for a new home, how much we could afford, etc. In the span of less than 2 months, we went from a mere dream of moving into a bigger home, to the reality of making settlement this past Monday. Ruth could not have been more attentive, approachable, easy to work with and quite frankly made me feel as if I were the most important client in the world to her- She even provided us with assistance on an offer we wanted to make- and it was 1am.... I am not kidding. No matter what the question was, she was always there with the answer. Her dedication to her profession was what has enabled me to navigate this otherwise potentially stressful road to owning our dream house, and she made it easy. She is, by far, not only very professional, knowledgeable, and easy to work with, but clearly took a true ownership in seeing us through this process- I am a General Manager for Marriott International. I earn my living through making people happy, comfortable, making them feel at home when they are on the road, away from their true "home" , which is often stressful to travelers. I have to tell you- Ruth is a rare breed. All too often people get shuffled through processes and are just another file on a desk- What you have in Ruth Falcone is a true treasure & I felt the need to share my experience with you both- Have a great evening & thank you.

~ Kostas & Kristen