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what is an arm loan mortgage

Adjustable rate mortgages are unique because the interest rate on the mortgage adjusts with interest rates in the marketplace. This is important because mortgage payment amounts are determined (in part) by the interest rate on the loan. As the interest rate rises, the monthly payment rises. Likewise, payments fall as interest rates fall.

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Bankrate.com provides free adjustable rate mortgage calculators and other ARM loan calculator tools to help consumers learn more about their mortgages.

An adjustable-rate mortgage (ARM) is a loan in which the interest rate may change periodically, usually based upon a pre-determined index. The ARM loan may include an initial fixed-rate period that is typically 3 to 10 years.

What is an Adjustable Rate Mortgage (ARM)? – ValuePenguin – Assume that in 2010, you took out a 5/1 ARM mortgage for a total loan of $240,000. The ARM rate was tied to the 1-Year Treasury Constant Maturity Rate ( CMT).

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When shopping for a mortgage, it’s very important to pick a suitable loan product for your unique situation. Today, we’ll compare two popular loan programs, the "30-year fixed mortgage vs. the 7-year ARM.". We all know about the traditional 30-year fixed – it’s a 30-year loan with an interest rate that never adjusts during the entire loan term.

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What is a 5/1 ARM Mortgage? – Financial Web – finweb.com – How a 5/1 ARM Mortgage Works The term 5/1 ARM means that you will get five years of a fixed interest rate, followed by one-year increments of adjustable rates. This means that for the first five years of the mortgage, you are going to have the same interest rate and the same monthly mortgage payment.

What Is a 5/5 ARM Mortgage? (with picture) – wisegeek.com – A 5/5 ARM mortgage is a loan option for potential home buyers in which interest rates change, or are adjustable, after a period of time. In the case of a 5/5 ARM mortgage, the interest rate on the mortgage loan is adjusted after the fifth year of the mortgage. After that point, the interest rate is adjusted every five years until the term of the mortgage expires.

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Fixed Rate vs Arm Mortgage – YouTube – If you are considering an adjustable-rate mortgage (ARM), it's important to. An ARM is a loan with an interest rate that will change throughout the life of the loan .