Adjustable Mortgage Rates (also called ARM’s)

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These types of loans are tied to fluctuating indexes, such as the LIBOR index.

• Positive: Usually result in lower initial payments due to reduced intro-rate mortgage rates. If you are not planning on being in your home for a while, or you belive that the mortgage rates will drop, then consider an ARM.
• Negative: Your payments and interest rate will fluctuate. If you are worried that interest rates may go up, then ARMs are not for you.

Is It Right For You? ARMs typically suit individuals with a higher tolerance for risk looking for lower initial monthly payments. Also, ARMs often have an initial fixed rate period for three or five years, for example. In this case, an ARM may fit your needs better if you do not expect to keep the loan past the initial fixed period.