10 Year ARM Programs

For many home buyers and homeowners, a 10 year adjustable rate mortgage can be the perfect choice for their home financing needs. 10/1 ARM products offer low introductory mortgage rates for the first 120 months. After the 10 year introductory period comes to a close, the mortgage rate can then adjust up or down depending upon the loan's margin, caps, and the index which the loan is tied to. Most 10/1 ARM loans are amortized over 30 years (360 months). People who gravitate to 10 year ARMs often do so because they want the low introductory rate of an ARM but are not willing to take on the risk of a shorter term adjustable rate product.

There are times when 30 year fixed mortgage rates are actually lower than 10/1 ARM pricing so be sure to talk to your mortgage professional a get a snapshot of where rates are for both products. At Gateway Bank Mortgage, we have access to a number of competitively priced adjustable rate loan programs.

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