connecticut home loans connecticut home loans connecticut home loans connecticut home loans
connecticut home loans
connecticut home loans
apply

Home Loans

Buy A home
Refinance
Mortgage Process
Nationwide Lenders
Find A Home
Articles
Contact Us
connecticut home loans
connecticut home loans
Improvement Loans
Construction Loans
Jumbo Mortgages
97% Home Loans
100% Home Loans
103% Home Loans
Pre-Approvals
No Money Down
Conventional
 

Adjustable Rate Mortgages

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