Adjustable Rate Mortgages (ARMs) Aren’t What They Used To Be
- Paul Barranco
- May 8, 2024
- 1 min read
Today’s adjustable-rate mortgages are a lot different than they were in the past. And they may be the best choice for your purchase or refinance.
ARMs are smarter. Here’s why:
Most people only stay in their mortgage for 5 to 7 years. Why not go for the lower rate?
With an ARM, more of your payment goes toward the principal, so you pay down your mortgage faster.
ARMs are safer
ARMs no longer feature pre-payment penalties, so you can easily refinance.
You’ll never have to worry about a big balloon payment.
ARMs can save you money
A lower rate means a lower payment, which means more cash in your pocket each month.
Let’s Talk About Your ARM Options.
Contact the team at 1st Phase Mortgage today!
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