What is an Adjustable Rate Mortgage? (ARM)

A person is using a calculator on top of a document with numbers. The left hand holds a small notebook with Property Value and notes on an Adjustable Rate Mortgage. Nearby, there is a pencil and a small model house.

An Adjustable Rate Mortgage (ARM) is a type of loan that comes with a variable interest rate. Most ARMs that are available nowadays come with a fixed interest rate for an initial period, typically 3, 5, 7, or 10 years. By opting for an ARM, you are essentially taking on some of the risk associated […]