Posts tagged Adjustable Interest Rate
What is a 1-Year Adjustable Rate Mortgage?

The 1-Year ARM, though rare, is yet another hybrid adjustable rate mortgage option available to borrowers. As the name suggests, a 1-Year ARM has an initial period of one year with a fixed interest rate. After the initial year, the fixed interest rate converts into an adjustable interest rate, that can be adjusted or “reset” on a yearly basis (annually).

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