Michigan Adjustable Rate Mortgages
from Locked-IN Lending, LLCAn adjustable rate mortgage (ARM) makes home ownership affordable for many borrowers, especially those just starting or restarting the mortgage process. With an ARM, the interest rate can change periodically causing your monthly payment to either go up or down. Adjustable rate mortgage loans typically offer a lower initial interest rate than a fixed rate mortgage.
ARM loans can help you afford a home in Macomb or Oakland County far easier than you ever expected. During their introductory rate period, these loans have a low fixed rate that can help you save a bunch of money. If you plan on only owning a home or property for a short amount of time, an adjustable rate mortgage can help you. After the introductory period, that’s when the interest rate will go up. Your payments will too. ARMs have interest rates that adjust and vary based on the market, while fixed rate mortgages have an interest rate that stays constant throughout the term of the loan.
Not all mortgage brokers in Michigan are the same, and Locked-IN Lending, LLC is different from other brokers in many ways. We will help you decide if an adjustable rate mortgage is rate for you, discuss the advantages and disadvantages of an ARM, and walk you through the entire process. Whether you’re buying a home in Macomb County or Oakland County, we can help you buy it. We will find you the lowest down payment, lowest rate, or lowest mortgage payment available.
Adjustable Rate Mortgage Features
- Credit scores as low as 640
- Down payment as little as 10%
- Can be helpful if you plan on moving within a few years
- Can be a VA, Conventional, FHA, or Jumbo Loan
- Starts with an initial fixed rate
- No pre-payment penalty
Get the right mortgage for you Locked-IN today.