Log In  |  Contact Us  |  Help
Log in
Email:
Password:
 

OK

Calculate Payment
Loan Amount:
$

GO

Program
Rate
APR
Payment
Apply Now
Select a loan application:

GO

Adjustable-Rate Mortgage

 Adjustable-Rate Mortgage (ARM)

A mortgage with an interest rate that changes during the life of the loan according to movements in an index rate. Sometimes called AMLs (adjustable mortgage loans) or VRMs (variable-rate mortgages).


Annual ARM

This loan has a rate that is recalculated once a year.


Monthly ARM

With this loan, the interest rate is recalculated every month. Compared to other options, the rate is usually lower on this ARM because the lender is only committing to a rate for a month at a time, so his vulnerability is significantly reduced.


Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM)

These increasingly popular ARMS—also called 3/1, 5/1 or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a "5/1 loan" has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It's a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

 

HomeTown Lending Partners, LLC
1700 E Golf Road, Suite 100, Schaumburg, IL  60173
Direct:  (847) 240-5162
hometownlending@wehelpyousave.com
Copyright © 2017 HomeTown Lending Partners, LLC.
NMLS# 171236
Privacy Policy  | Security Statement  |  Site Map