Adjustable-Rate Mortgage

Low Initial Monthly Home Loan Payments

What Is an Adjustable-Rate Mortgage?

An Adjustable-Rate Mortgage (ARM) is a home loan that usually has a set, low fixed-interest rate for a certain period of time, like 5, 7 or 10 years. For the remainder of the home loan, the interest rate would adjust annually, depending on the market. An ARM is also known as a Variable-Rate Mortgage or a Floating-Rate Mortgage.

Learn more about current offers or ask your Home Loan Specialist.

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Overview & Benefits

Things to Consider with an Adjustable-Rate Mortgage

Be sure to remember that with this particular loan your monthly payments may increase, but the benefit of having low rates initially can save you money.

Here are a few of the things you’ll find with our Adjustable-Rate Mortgages:

  • 5, 7 and 10 year fixed period
  • 6% lifetime cap over the original rate for 5/1 ARMs
  • 5% lifetime cap over the original rate for 7/1 and 10/1 ARMs
  • Interest rate increases and decreases are limited to a 2% per year cap1
  • No negative amortization
  • No prepayment penalty
  • Competitive fees

Is an Adjustable-Rate Mortgage right for you?

Adjustable-Rate Mortgage Loans are great if you:

  • Don’t plan to stay in a property for a long time
  • Want a home loan with lower initial monthly payments
  • Think interest rates will go down in the future

Properties that qualify for our Adjustable-Rate Mortgage are primary residences, second/vacation homes and rental properties.

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Lock in Your Low Interest Mortgage Now

To apply for an Adjustable-Rate Mortgage Loan online, simply choose a Home Loan Specialist to get started.

Finding the right home financing solution can seem like a difficult process, but Delta Community will help you navigate financing your home. If you have questions or want to speak with a Home Loan Specialist over the phone, contact us toll-free at 866-963-7811 to get the answers you need.

1 Not to increase more than 5.00% on first change for 7/1 and 10/1, then limited to 2.00%.