What are the requirements for an FHA ARM?

Janae, I am not sure what you are asking but an ARM is a good choice if you are planning on moving within 5 to 7 years. There are 5, 7 and 10 year ARMS available. For a 5 year ARM - the rate is fixed for 5 years and then starts adjusting. The shorter the fixed period the lower the rate. There are many things to consider when looking at rate - down payment, type of program, etc. Please call me and I can give you a quote based on your specific situation. I am located in Salt Lake City. 801.550.1222 or linda@lindamillergroup.com

HI THERE: BE GLAD TO GO OVER YOUR DTI WITHOUT PULLING YOUR CREDIT. BASICALLY ARM (ADJUSTABLE RATE MORTGAGE) FOLLOW AN INDEX AKA INDICES (TREASURY ETC) DEPENDING ON WHAT U SELECT SUCH AS 3, 5, 7 OR 10 YRS ARM, THAT RATE IS FIXED FOR THOSE CERTAIN # OF YRS THEN REMAINING YRS BASED ON 30 YR AMORTIZATION WILL BE ADJUSTABLE TO A MAX RATE UNLESS U REFINANCE THE LOAN TO A FIXED OR ANOTHER ARM PRODUCT. LENDING NATIONWIDE (MIKE 703 505 5300) NMLS 754875

One question I'd ask is why you want a FHA ARM as opposed to conventional. With your good credit and a down payment of at least 5%-10% down, you might do better conventional. FHA has extra fees and a higher monthly MI (mortgage insurance) than conventional. Be sure to compare your options!. Marty Stern, HomeStreet Bank. (I lend in California only.)

Your on the right train of thought, but you really need to speak to a mortgage professional. He can properly calculate your DTI, and look at all the other factors necessary for mortgage qualification. Typically, if you plan to move in a few years, then your better off with an ARM than a FRM, but until your lender sees the complete picture, it's hard to advise you properly. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com