Short-term borrowing
If you only plan to stay in your home for a short period, an ARM can be a smart choice. You can take advantage of the lower initial rate and sell or refinance before the adjustment period begins.
Potentially lower rates long-term
After the initial fixed term period, your interest rate will change based on the market. This gives you the potential to save money if the rates decrease over the life of your loan.
Eligible property types
While manufactured homes and co-ops are not eligible, detached 1-unit single family residence, 2-4 unit properties, modular homes, FNMA eligible condos, and non-warrantable condos are eligible.
