If you are looking for a super low ARM rate and are only planning on being in your home for a limited amount of time, then a 1 year ARM program might be right for you. Short term adjustable rate mortgage products carry higher risk than fixed rate mortgages but typically provide consumers with lower introductory rates (although this is not always the case). The risk is that once that introductory period ends, the rate may adjust upward (or downward) depending upon the value of the corresponding index at that time. A mortgage professional should be able to explain to you the details of this creative financing product. The terms of these programs are subject to change – so be sure to ask for the most–up-to-date program requirements.
1 Year ARM Rates and Program Information
To learn more about 1 year adjustable rate mortgages, contact the mortgage companies in the survey. Please note that the survey on this site does not typically publish 1 & 2 year ARM rates. You will need to contact a lender or broker for details.
Who might consider a one year adjustable rate home loan program?:
- People who are expecting their income to grow and who want to buy a more expensive home.
- Homeowners who do not plan on being in their home long-term and real estate investors who are planning on selling their homes quickly.