The Low down on
Adjustable Rate Mortgage
An ARM is an Adjustable Rate Mortgage. Unlike fixed rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically. The initial interest rate of an ARM is lower then that of a fixed rate mortgage, consequently, an ARM maybe a good option to consider if you plan to own your home for only a few years; you expect an increase in future earnings; or, the prevailing interest rate for a fixed mortgage is to high.
We’re here to make it a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Adjustable Rate Mortgage Qualifier.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
You ask, we answer
We know the mortgage process can be tricky. Here’s some questions people like you have asked us in the past.
Pride Mortgage Lending is your online resource for personalized mortgage solutions, fast
customized quotes, great rates, and service with integrity. We’re here to make the home loan
process a whole lot easier, with tools and expertise that will help guide you along the way.
At Pride Mortgage Lending, we are a diamond partner with the largest wholesale purchase
lender in the country. That means we have the fastest turnaround time and the best platform to consistently close your loan. Our average closing time is 12 days.
We also have the resources to make your home-buying process seamless. Use our free decision-making tools and calculators, from pre-approval to home insurance quotes, to get the process going. You can do a home search, learn the value of your home, and calculate your payments right from our site.
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Mortgage rates change daily and vary depending on your unique situation. But you will always
get our best rates by starting your application online. You can see today’s rates and learn how
rates are trending: get your free quote today!
Pride Mortgage Lending is best for people who have a credit score of 620 or above and are ready to buy, sell, refinance, or build their dream home.
Why an ARM?
Most homeowners get into adjustable-rate mortgages for the lower initial payment, and then usually refinance the loan when the fixed period ends. At that time, the interest rate becomes variable, or adjustable, and the homeowner would likely refinance into another ARM, something fixed, or sell the home outright.