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Fixed-Rate Mortgages
Adjustable-Rate Mortgages
Interest-Only Mortgages
No-Documentation/Low-Documentation Loans
Low or No Down Payment Loans
Less Than Perfect Credit
First-Time Homebuyers
Home Equity Debt
Adjustable-Rate Mortgages
Adjustable-rate mortgages are fixed for a specified period of time and then fluctuate after the fixed period expires. Compared to fixed-rate programs, adjustable-rate mortgages frequently offer lower rates during the fixed period since there is a risk that the rate may increase over the life of the loan. Adjustable-rate mortgages generally range from six months to ten years.
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Check the glossary
ARM
Fixed Rate
APR
Credit Rating
Interest Rate
AGE
