Conventional Adjustable Rate Mortgage Loans (ARMs)

If you’re looking for a low initial monthly payment and are willing to accept the uncertainty of future rates and payments, an ARM may be right for you.

Adjustable-rate mortgages typically offer a lower initial interest rate than fixed-rate loans. That’s because the loan’s initial interest rate is only fixed for a set period of time. After that, the rate will adjust periodically, and so will your monthly mortgage payment.