Delaware Adjustable Rate Mortgages
Delaware Adjustable Rate Mortgages (ARMs) are mortgage loans with interest rates that can change or adjust. Delaware ARM loans usually start with lower monthly payments than fixed-rate mortgages because they have a lower “teaser” rate. With a fixed rate mortgage, the interest rate stays the same during the life of the loan which is the entire term. Call 302-703-0727 to apply for an Adjustable Rate Mortgage or for more information. You can also APPLY ONLINE
For example, a 30 year fixed rate mortgage has the rate fixed for the entire 30 years. With an ARM Loan, the mortgage interest rate is only fixed for a set period of time and then changes periodically and payments may go up or down accordingly as the interest rate adjusts.