Adjustable Rate Mortgage Loans

• Lower initial rate and monthly payment compared to a fixed rate loan
• Lower payment over a shorter period of time
• Rates and payments may go down if rates improve
• May qualify for higher loan amounts and more expensive home
• Payments can change over time
• Appropriate for borrowers who plan to occupy the home for 10 years or less
• Appropriate for borrowers who may be transferred frequently
• Appropriate for borrowers who want a lower initial monthly payment and are comfortable with a variable payment