Phone: (520) 458-4001 | Toll Free: (855) 458-4001
We work with people, not paper.

Phone: (520) 458-4001 | Toll Free: (855) 458-4001
We work with people, not paper.

Sunday, December 10, 2017
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Phone: (520) 458-4001
Toll Free: (855) 458-4001
Fax: (520) 458-4002
PRIVACY
MB0929056,
NMLS #187154
Email:
Info@efedwardsfinancial.com

Phone: (520) 458-4001
Toll Free: (855) 458-4001
Fax: (520) 458-4002
PRIVACY
MB0929056,
NMLS #187154
Email:
Info@efedwardsfinancial.com

Adjustable Rate Mortgages (ARMs)

These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.

However, the interest rate changes at specified intervals (for example, every year) depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also.

There are also mortgages that combine aspects of fixed and adjustable rate mortgages - starting at a low fixed rate for seven to ten years, for example, then adjusting to market conditions. Ask your mortgage professional about these and other special kinds of mortgages that fit your specific financial situation.

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