adjustable rate mortgage
for adjustable rate mortgages, do interest rates fluctuate from month to month or is the interest rate annually fixed on a certain date? by ENorto_720_421 from Tijeras, New Mexico. Aug 22nd 2012
Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions
Most ARM's have adjustment caps and specific time periods at which rates can adjust, usually every 12 months.
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
As you can see from the answers, "It depends" Most loans originated today will see the rate change once every 6 or 12 months depending on the loan terms. There are pros and cons to each, so you should work with a Licensed Mortgage Professional to help determine which is the best for your particular needs. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950
Shaun batin (loanleaders)
#572 ranked lender in California - 8 contributions
Most ARM's are fixed for 3, 5, 7 or 10 years before they adjust. Call me and I will be happy to go over rates & terms.ThanksShaun BatinLoan Leaders of Americahttp://www.loanleaders.com888-834-1988 ext. 159
Kelly Krauth (KKrauth)
#1 ranked lender in New Mexico - 28 contributions
It depends on the product, they adjustment periods for different intevals. Call me; I am local here in Tijeras as well :) Rates differ between programs. 505-286-3071
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