You've Been ARM'd

1. Lower Initial Monthly Payment
ARM rates can be anywhere from .5% to 1.0% lower than your traditional 30 year fixed rate. Over a 5, 7 or 10 year period, you could be saving tens of thousnds of dollars.
2. Not Only for Daredevils
The days of risky loans that drown you in debt are gone. Today’s ARMs have easy to understand terms along with annual and lifetime caps so your rate can never go above a certain level.
3. Questions to Ask Yourself...
How long do I plan on living in this home?
If this is your starter home, statistics show you will move or refinance within 7 to 10 years. Paying a higher rate for a 30 year fixed rate mortgage may not be the best idea.
Expecting a raise or promotion soon?
As your income grows, you will have the benefit of making extra principal payments and pay down your loan quicker. Maybe even upgrade to a new home!
4. Build Wealth Quicker!
This is not a get rich quick scheme – it’s basic math! With a lower interest rate and monthly payment, an ARM is a fantastic way to increase equity in your home and reach your financial goals even sooner.
5. Still Take Advantage of Historically Low Rates!
Although the 30 year fixed rate may now be near 4%, ARMs are still near 3%. You may have missed out on the lowest 30 year fixed rate, but with an ARM at 3%, this IS your opportunity.