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Home  ResidentialLoan
Programs ARM
Adjustable-rate mortgages (ARMs) offer lower rates during
an initial period (often 1-7 years). After the initial period,
rates adjust based on the current market as represented by
a specific index. Typically, caps are put in place to protect
the borrower from drastic increases in the interest rate.
Features:
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Lower initial rates |
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May allow borrowers to qualify for a larger loan |
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Caps provide security against rapid rate increases |
Options:
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Choose 1, 3, 5, 7 or 10 years at a fixed rate prior
to first adjustment |
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30 year terms |
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May be eligible for conversion to a fixed-rate mortgage |
Best For Homeowners Who:
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Are planning to move in a few years |
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Want a lower initial rate |
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Expect their income to rise over time |
Ask About These Special Programs:
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Flex 97 |
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Interest Only |
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Low Documentation |
A Gershman Mortgage loan officer can help find the best
mortgage for you. Call today, 1-800-GERSHMAN.
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