Brought to you by 7th Level Mortgage LLCApply Now 
Brought to you by 7th Level Mortgage LLCApply Now A rate that can change
An adjustable-rate mortgage generally begins with an initial rate period and may later adjust according to the loan's index, margin and caps. The initial payment should not be evaluated in isolation.
Before choosing an ARM, review when the first adjustment occurs, how often later adjustments occur, the index, margin, caps and maximum possible payment.
Moving or refinancing before adjustment is never guaranteed. Compare the ARM with a fixed-rate option under both expected and less favorable scenarios.
Frequently asked questions
The interest rate can adjust under the note's index, margin, adjustment schedule and caps. Review the full Loan Estimate and loan terms for payment scenarios.
No. The rate and payment may rise or fall under the loan terms. Consider the maximum possible payment and how long you may keep the loan.
General information is useful. A mortgage professional can help you evaluate the facts that apply to you.
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