Real Estate City Information: Mortgages

Adjustable-Rate Mortgages (ARMs)

Initial Fixed-Period ARMs: As protection against rapid interest rate increases in the early years of your loan, interest rates for these ARMs don't adjust until several years after you take out the loan. You can choose from three, five, seven, or 10-year fixed terms. At the end of your chosen fixed-rate period, your interest rate would adjust every year.