Another major difference between ARMs and fixed-rate mortgages is the mortgage term, which is the amount of time over which the mortgage is meant to be paid off. Both loans can have a total loan ...

An adjustable-rate mortgage (ARM) is a home loan where the interest rate fluctuates with market rates for a certain period of time. Here’s more on ARMs and whether it's a good option for you.

Fixed-Rate Mortgage vs. Adjustable-Rate Mortgage Example. Say you get a $400,000 home and put 20% down ... Term length. Both fixed-rate loans and ARMs offer 15-year and 30-year terms.

The main aim of a refi, after all, is to lower your monthly mortgage payment and pay less interest over the loan term. So, here are some strategies to score the best refinance rate. How to get the ...

While the introductory rate offered with an adjustable-rate mortgage may not stay low forever, it will remain low for the first portion of the loan term. And that may be all you need.

Adjustable-rate mortgages, which got a bad name during the housing meltdown of the late 2000s, are gaining some traction again as would-be homebuyers face the highest rates in decades for fixed ...

A 5/1 adjustable-rate mortgage is a type of loan that keeps your interest rate fixed for the first five years, then allows for rate adjustment on an annual basis.

As fixed mortgage rates have risen sharply over the course of 2022, more homebuyers are ditching their traditional home loans for adjustable-rate mortgages. ARMs typically come with a lower ...

15-year fixed-rate mortgage vs. ARM. Home loans may come with a fixed rate or an adjustable rate. A fixed rate won’t change throughout the life of the loan, even if market rates rise or fall.