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ADJUSTABLE RATE MORTGAGES (ARMs)

 

ADJUSTABLE RATE MORTGAGES (ARMs)

These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.

However, the interest rate changes at specified intervals (for example, every year) depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also.

There are also mortgages that combine aspects of fixed and adjustable rate mortgages - starting at a low fixed rate for seven to ten years, for example, then adjusting to market conditions. Ask your mortgage professional about these and other special kinds of mortgages that fit your specific financial situation.


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Greenway Funding Group, Inc. is licensed by the District of Columbia Government DISB, Maryland State DLLR, Virginia State Corporation, North Carolina Commissioner of Banks, Delaware Office of the State Bank Commissioner.

License Numbers: DC MLB 1108695, MD 06-20828, NC L-161472, VA MC-5777, DE 030649;
Greenway Funding Group Inc. NMLS# 1108695
www.nmlsconsumeraccess.org

Certain terms and conditions apply
Available rates are subject to change

 

 

 

Copyright © Greenway Funding Group Inc.

Greenway Funding Group, Inc. is licensed by the District of Columbia Government DISB, Maryland State DLLR, Virginia State Corporation, North Carolina Commissioner of Banks, Delaware Office of the State Bank Commissioner.

License Numbers: DC MLB 1108695, MD 06-20828, NC L-161472, VA MC-5777, DE 030649;
Greenway Funding Group Inc. NMLS# 1108695
www.nmlsconsumeraccess.org

Certain terms and conditions apply
Available rates are subject to change