With an ARM, interest rates can be locked in for a one, three, five, seven, or ten year time period. After the term expires, your rate adjusts either up or down based on the financial index associated with your particular loan. An ARM may be the right solution if you plan to be in your home for a short time or want to take advantage of a lower, initial interest rate.
We're here to answer any questions and help open the door to your new home. Call a Jefferson Bank lending specialist today at (210) 736-7700.