Low Interest Rates Make Adjustable Rate Mortgages An Attractive Option.

Adjustable rate mortgages (ARMs) allow borrowers to get low interest rates for a fixed period of time followed by variable rates after the fixed rate period expires. ARMs adjust up or down based on the index they are tied to. Fixed rate periods can last from one month to ten years making an adjustable rate mortgage ideal for homeowners spending fewer than 10 years in their home or anticipating higher incomes in the years ahead.

Planning For Your Future Saves Money.

Long term planning can help you determine if an adjustable rate mortgage is right for you. For example, if you plan on moving within the window of your fixed rate period, an adjustable rate mortgage might work well for you. For borrowers expecting an increase in income over the course of their loan, an adjustable rate mortgage gets them less expensive payments early in the loan with higher payments expected later.

Capped Interest Rates Allow You To Plan Appropriately.

Most adjustable rate mortgages have caps on the interest rates. Prior to agreeing to your loan, you’ll know how high your monthly payment could be after the initial fixed rate period ends. By minimizing your risks and planning for your future, you’ll be prepared if your rates increase.

Learn About Favorable Terms From Local Advisors.

The team of professionals at F&M Bank and F&M Mortgage walk you through your options to get the loan that works for you. We have the team you can depend on and the options you need from fixed rate mortgages to construction loans. We understand the value of home ownership and the cultural nuances that make the Shenandoah Valley so unique. Contact a member of our team or visit F&M Mortgage to get pre-approved and get a step closer to home ownership with an adjustable rate mortgage.

Have Questions? Get In Touch

540-896-8941
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