The Lowdown on Adjustable Rate Mortgage...
Our Adjustable Rates Are Low & Our Process is Quick & Painless
An ARM is an Adjustable Rate Mortgage. Unlike fixed rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically. The initial interest rate of an ARM is lower then that of a fixed rate mortgage, consequently, an ARM maybe a good option to consider if you plan to own your home for only a few years; you expect an increase in future earnings; or, the prevailing interest rate for a fixed mortgage is to high.
We’re here to make it a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Adjustable Rate Mortgage Qualifier.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
The Adjustable Rate Mortgage Loan Process
Here’s how our home loan process works:
- Complete our simple Adjustable Rate Mortgage Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
Why an ARM?
Conventional loans are loans that are at or under the county conforming loan limit which for Clark County, Nevada is currently $510,400. Loan amounts that exceed this limit are referred to as Jumbo or Non-Conforming loans. The minimum down payment on conventional loans is 3% for qualified first-time home buyers (some restrictions may apply) or a little as 5% down for seasoned home buyers. Mortgage insurance will be required for all conventional loans with less than 20% down by way of monthly mortgage insurance payments included in your mortgage payment or may also be built into the rate. Low down payment, competitive rates, reduced mortgage insurance are some of the benefits of conventional loans.
- Adjustable Rate Mortgage (ARM)
- Conforming Loans
- Jumbo & Super Jumbo Loans
- FHA, VA, & USDA Loans
- Terms from 5 to 30 Years