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3 Year ARM Mortgage Information
Looking for a great interest rate on a short term financing
solution? Gateway Bank Mortgage offers a variety of home loan
products including 3 year adjustable rate mortgages. These
mortgage products can be a good fit for homeowners and home buyers
who are planning on being in their properties for less than five
years. 3/1 ARM loans offer low introductory rates which remain fixed
for the first 36 months. After the introductory period comes to
a close, the loans then begin to adjust up or down based upon their
margins, caps, and the indexes that they are tied to.
3 year ARM loans do carry a higher degree of risk when compared
to fixed rate products. Consumers who are risk adverse or those
with minimal equity or lack substantial job security may be better
off with a fixed rate product or with an ARM with a longer fixed
introductory period such as a 10/1, 7/1, or 5/1 adjustable rate
mortgage.
Give us a call today at 877-728-3569 and one of our mortgage
professionals can help you weigh the pros and cons of these products.
Potential Benefits of a 3 year adjustable rate mortgage:
- Low introductory rate for the first 36 months of the mortgage.
Typically, the introductory rate for a 3/1 ARM will be lower than
5-10 year ARM rates.
- Gateway Bank Mortgage can underwrite these loans in-house which
means that your mortgage can move efficiently from application
through closing.
Looking for a quote? Simply complete the Rate Quote Form on this
page and one of our mortgage professionals will contact you for
a free quote and consultation.
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