GET PRE-APPROVAL WITH IN 24 HOURS 1.25% START RATE $200.000 MORTGAGE $646 FOR A MONTH NO MONEY DOWN 100% FINANCING INTEREST ONLY LOANS BAD CREDIT WELCOME FIXED RATE MORTGAGE The traditional fixed rate mortgage is the most common type of loan programs, where monthly principal and interest payments never change during the life of the loan. ADJUSTABLE RATE MORTGAGE Adjustable Rate Mortgages (ARM)'s are loans whose interest rate can vary during the loan's term. These loans usually have a fixed interest rate for an initial period of time and then can adjust based on current market conditions. HYBRID ARMS Hybrid ARM mortgages, also called fixed-period ARMs, combine features of both fixed-rate and adjustable-rate mortgages. INTEREST ONLY MORTGAGES A mortgage is called "interest only" when its monthly payment does not include the repayment of principal for a certain period of time. COMPONENTS OF AN ARM To understand an ARM, you must have a working knowledge of its components. COMMONLY USED INDEXES FOR ARMS This is a list of the most commonly used indexes by ARM lenders. BALLOON MORTGAGES Balloon mortgages have a note rate that is fixed for an initial period of time, and then the remaining principal balance is due at the end of the term.

Equal Housing Opportunity © Copyright 2002-2006 LENDARM, INC. All rights reserved. Terms of Service | Privacy Policy