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10 Year Adjustable Rate Mortgage (ARM)

Features & benefits

  • The rate is fixed for ten years and then switches to a one-year adjustable rate in the eleventh year. The initial rate is normally lower than a fixed rate. Annual rate increases are limited to 5%. The lifetime increase is limited to 5%.
  • There is a lower initial rate than most 30 or 15-year fixed rate loans while maintaining the security of a fixed rate for 5 years. Monthly principal and interest payments will remain the same in the loan’s early years, a time when most people can least afford an increase.

If the worst-case scenario occurs (a maximum rate increase of 5% per year or a lifetime increase of 5%), it could mean significant changes to your monthly payment.

When considering an adjustable-rate mortgage, calculate your monthly payment in the worst-case scenario. If this fits your budget and is an acceptable risk level, the ARM may save you money in the long run.

Mortgage details

Loan purposeLoan
Purchase$0-$2,000,0000.00%-80.00%No15, 20, 25, 30
Purchase$0-$1,250,00080.01%-85.00%Yes15, 20, 25, 30
Purchase$0-$850,00085.01%-90.00%Yes15, 20, 25, 30
Purchase$0-$766,550 90.01%-95.00%Yes15, 20, 25, 30
No Cash-Out Refinance$0-$2,000,0000.00%-80.00%No15, 20, 25, 30
No Cash-Out Refinance$0-$1,250,00080.01%-85.00%Yes15, 20, 25, 30
No Cash-Out Refinance$0-$850,00085.01%-90.00%Yes15, 20, 25, 30
No Cash-Out Refinance$0-$766,55090.01%-95.00%Yes15, 20, 25, 30
Cash-Out Refinance$0-$850,0000.00%-75.00%No15, 20, 25, 30
Cash-Out Refinance$0-$800,00075.01%-80.00%No15, 20, 25, 30
Cash-Out Refinance$0-$1,250,0000.00%-70.00%No15, 20, 25, 30


Displayed product information is valid for a 1 unit property only. For information on a property with more than 1 unit, please call 1-877-261-2820.

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