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Adjustable Rate Mortgages

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adjustable rate mortgages

How It Works

How Adjustable Rate Mortgages Work

Adjustable rate mortgages are a popular mortgage option.  Your interest rate is fixed for a certain period of time: Usually 3, 5, 7 or 10 years.  After that time, your interest rate may change once per year depending on the bond market.  That means your monthly payment can go up OR down each year.  There are lifetime caps on the interest rate, which means your rate can’t be more than 5% above the rate you started at.

A popular option is the 5/1 ARM. This fixes your rate for 5 years, which for most American’s is around the time most think about refinancing or moving.

For a consumer handbook on ARMs from the Consumer Financial Protection Bureau (CFPB), click HERE.

Different Types of Adjustable Rate Mortgages

  • FHA offers different types of ARM options
  • Eligible veterans, service members, and spouses can choose an ARM with their VA loan
  • Jumbo loans and HELOCs are forms of ARM loans

Key Benefits

How you save with an Adjustable Rate Mortgage (ARM)

  • Starting interest rates are typically lower than fixed rate mortgages
  • Monthly mortgage payments are lower in the first few years of the mortgage loan
  • Down payments as low as 3% on a home loan purchase
  • Refinance up to 95% of your home’s appraised value

Benefits of Getting Your Loan With Emmett Dempsey

  • Personalized service from one of Florida’s top rated lenders.
  • Balance of online tools and technology with a human client touch.
  • Clarity of mortgage options and financial benefits through a Mortgage Coach Total Cost Analysis.
  • Continued Annual Reviews of your mortgage and personal finances.

Other Popular Loan Choices


Adjustable Rate Mortgages

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