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7/1 and 10/1 Jumbo ARM Programs
While 7/1 and 10/1 jumbo arm rates are not listed in the rate survey below, many of the companies featured likely have these products. Please contact them directly for details on their current rates:
When
it comes to finding some of the best
mortgage rates in the industry for 7 year jumbo
and 10 year jumbo adjustable rate mortgages, ForTheBestRate.com
has got you covered. Depending upon current market
conditions, these jumbo ARM products can be a happy
median between the lower rates and higher volatility
of shorter term ARM products and the higher rates
and raised stabilityof fixed rate mortgage products.
The biggest item to take into consideration is whether
the savings justifies the risk. The greatest benefit
of 10 year jumbo ARM and 7 year jumbo ARM products
is the lower initial rate that these products offer
versus that of long term fixed rate products. And
since many people do not stay in the same house for
more than seven years, these programs can be a perfect
solution. Call one of the mortgage companies listed
in the survey for more information.
Request a customized 7 or 10 year jumbo ARM rate quote:
1. Call the mortgage lenders, brokers, and banks listed
on this web site for information on rates and programs.
2. Use the survey to navigate to the companies' web
sites.
7/1 Jumbo ARM and 10/1 Jumbo ARM Benefits
- Low introductory rate fixed for seven or ten 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.
- Interest Only options exist for qualified borrowers.
7 Year & 10 Year Jumbo Adjustable Rate Mortgage
- Some Items to Consider
- Depending upon the market, 7 year jumbo adjustable
rate mortgage and 10 year jumbo adjustable rate
mortgage rates are not always lower than that of
fixed rate products. Be sure to compare rates between
programs!
- If you are still concerned about the potential
adjustments after the first 7 or 10 years, you
may want to look into a 30
year fixed jumbo mortgage which protects you from interest rate risk.
- Paying points on ARM products can rapidly reduce
your interest rate. You will just need to analyze
how long it will take you to make back the upfront
costs in potential savings down the road. For more
on mortgage points, click
here.
Find out more about some of our adjustable rate
mortgage programs:
10
Year Adjustable Rate Mortgage
5
Year Adjustable Rate Mortgage
3
Year Adjustable Rate Mortgage
2
Year ARM
1
Year ARM
