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3 and 5 Year Jumbo Adjustable Rate Mortgages
Research jumbo mortgage rates using the rates survey below. If the product you are searching for is now listed in the product selection tool, please contact the lenders and brokers directly as they may very well offer that product.
If
you are planning on living in your home for three
to seven years, then a 3 year or 5 year jumbo ARM
might be the right choice for your home financing
needs. These programs are available for loan sizes
greater than $417,000 for single family homes, $533,850
for duplexes, $645,300 for triplexes, and $801,950
for 4-unit properties (may vary by area and these
numbers are based upon 2009's conforming loan limits,
these numbers change periodically, check with a lender
or broker for current limits). A huge portion of homeowners
in the U.S. do not stay in their homes for more than
seven years. So, why do so many homebuyers gravitate
to 30 year mortgages? Perhaps it is security or just
an old habit. The truth is that for many people it
might not be the the wisest financial strategy. With
a 3 year jumbo adjustable rate mortgage or a 5/1 jumbo
ARM, you may get a lower fixed starter rate for three
to five years than you would with a 30 year mortgage.
Of course, after the initial fixed period, the rate
may adjust up or down depending upon the state of
the market at that time. Yes, there are some risks
with adjustable rate mortgages. However, a savvy homeowner
can use ARMs in their favor. Give the companies
in the survey a call for a consultation and to discuss
whether a 3 year jumbo ARM or 5 year jumbo adjustable
rate mortgage might be right for you.
Contact the lenders, brokers, and banks for 3 year
or 5 year jumbo ARM rate quote and program details:
1. Call them directly using the phone numbers in the
rate survey.
2. Visit their web sites using the links in the rate
survey.
Possible 3 Year Jumbo ARM and 5 Year Jumbo ARM Benefits:
- Low introductory rate fixed for three to five
years
- Various index based options to help you find the
right balance of minimizing risk and getting a great
rate (i.e. LIBOR vs. Treasury) – Ask your Mortgage
Professional for details
Getting started with a 3 Year Jumbo Adjustable
Rate Mortgage & 5 Year Jumbo ARM by contacting
the companies listed on this site.
Other Jumbo
Mortgage Programs to Consider:
3
Year Jumbo ARM & 5 Year Jumbo ARM Programs
7
Year & 10 Year Jumbo Adjustable Rate Mortgage
15
Year Jumbo Loan
30
Year Jumbo Mortgage
