Adjustable rate mortgages are loans where the interest rate is recalculated on a yearly basis depending on market values. As interest rates are adjusted so is the borrower's monthly payment. While interest rates on ARM loans are generally lower than fixed rate loans they can eventually become higher.
Various types of ARM loans include Hybrid ARMs such as 10/1 year, 7/1 year, 5/1 year and 3/1 year programs. These programs are mostly beneficial for short term use.
Contact us for more information on adjustable rate mortgage loans.
Term: 30 years Maximum Amount: $424,000
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GDM Mortgage corp
2750 Taylor Ave, Suite 25 Orlando, FL 32806 NMLS: 1588221