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7 Year Adjustable Rate Mortgages (7/1 ARM Programs)
Search for 7 year ARM rates and rates for other mortgage programs by speaking with the lenders in the survey below:
7
year ARM products can be a great alternative for home
loan shoppers who do not need the long term financing
of a fixed rate mortgage and do not want to carry
the risk of shorter term ARM products. 7 year ARM
mortgage rates are usually slightly lower than that
of a 30 year fixed rate mortgage but, from time to
time, may actually be higher. You can find out about
our 7 year ARM rates by calling the various lenders,
brokers, and banks listed in the survey. Many
will offer 7 year arm mortgage products to choose
from.
Request 7 Year ARM information (2 options)
1. Request a 7/1 ARM rate by speaking with one of
the companies listed on ForTheBestRate.com
2. Research the mortgage providers by checking out
their web sites. Use the survey to get there.
7 Year ARM Program Highlights
- Low fixed rate for seven years
- Loan sizes up to $417,000 (jumbo loan sizes $417,000-$3,000,000
may also be available)
- Many have lifetime cap of 5% above initial rate
- Available for primary residences, second homes,
and possibly for investment properties.
7/1 ARM Rates & Loan Programs
With a 7/1 ARM, your rate will be fixed for the first
seven years and then may adjust according to the ARM's
margin, caps, and the index which the program is based
upon. Sound confusing? It does not have to be. A qualified
mortgage professional can walk you through how 7 year
ARMs work and they can provide you with an Adjustable
Rate Mortgage Handbook which explains the ins and
outs of these loans. You can also use our Adjustable
Rate Mortgage APR Calculator and ARM vs. Fixed Rate
Mortgage Calculator to help you make an informed decision.
Additional Adjustable Rate Mortgage Programs to
Consider:
