An Adjustable-Rate Mortgage, or ARM, is a type of home loan that has a variable interest rate. This means that the interest rate you pay on your loan can change over time, depending on the market conditions. An ARM usually has a lower initial interest rate than a fixed-rate mortgage, which means your monthly payments are lower at the beginning of the loan. However, after a certain period of time, the interest rate can adjust up or down, which can affect your monthly payments and the total cost of the loan.

At Premier Lending Group, we have many types of ARM to help meet the needs of our clients.  ARMs are typically named according to how often the interest rate changes and how long the initial rate lasts. For example, a 3/1 ARM has a fixed interest rate for the first three years of the loan, and then adjusts every year after that.  A 5/6 ARM has a fixed interest rate for the first five years of the loan, and then adjusts every six months after that.