Adjustable-rate mortgages are often overlooked by home buyers, but thanks to high interest rates and shifting economic environments, experts say these lesser-used loans could be an attractive option ...
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Pros and cons of an adjustable-rate mortgage (ARM)
An adjustable-rate mortgage (ARM) is a mortgage whose interest rate resets at periodic intervals. ARMs have low fixed ...
A 7/1 ARM is a type of mortgage loan that starts with a fixed interest rate for the first seven years, then adjusts annually thereafter. The initial fixed-rate period for a 7/1 ARM can have a lower ...
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