ARM Mortgage

What’S A 5/1 Arm Loan

Contents 5/1 arm (adjustable rate Years Outstanding balance varies Popular loan programs 5/1 hybrid adjustable-rate mortgage (5/1  · A 5/1 arm (adjustable rate mortgage) combines some aspects of a variable-rate mortgage and a fixed-rate one.The “5” indicates that the loan’s interest rate will remain fixed for the first 5 years of the loan term. After those five years are up, the rate will adjust “1” time per year, until the loan has been repaid. An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the…

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