When mortgage rates begin to rise, United Faith Mortgage is always available to consult about refinancing to an Adjustable Rate Mortgage (ARM). Take advantage of our lower initial interest rates rather than those of our 30-year fixed-rate counterparts. An ARM has many moving parts and we want to help you organize and work out a plan for the short-term stability you want in an ARM loan. This is the best option if you look forward to pocketing the difference and saving money in the end. United Faith Mortgage has become the best place to solidify the details of your ARM.
The Adjustable Rate Mortgage (ARM) is broken down into three desirables:
In two parts, this loan starts out as a Fixed Rate Loan, amortizing over time. This option has a lower rate and only fixed for one to 10 years.
The second portion of the loan has a floating interest rate that adjusts annually or every six months to the fluctuations of the market.
A reasonable cap is placed on the loan. During the years of fluctuation, it adheres to a maximum rate, regardless of how interest rates skyrocket.
ARM programs through United Faith Mortgage come with a lifetime cap on the rate. Your rate will never go higher than the ceiling placed on the loan. Investment property buyers enjoy rates that give consumers control over the mortgage process.
In each step along the way, United Faith Mortgage has proven to be a community partner and an honest answer to those seeking solutions. Our loan officers are only a phone call away.