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| Adjustable Rate Mortgage (ARM) |
At Blackstone Home Mortgage we will always look for the lowest rate available. In many cases this will be in a product called an Adjustable Rate Mortgage. Our low adjustable rate mortgages will give you the lowest payment on your home or investment property.
Each month your mortgage payment is recalculated according to the rate and margin agreed upon within the note. The rate is capped so your payment will always be affordable according to your income qualification.
Is an Adjustable Rate Mortgage right for you?
· If you want to start with a lower rate and expect your income to increase over the next few years.
· Do you want to refinance for a shorter period of time, such as 6 months?
· Do you expect to move due to job or family requirements within a few years?
· Do you have temporary financial obligations such as childcare, college, or medical expenses?
· Are you having trouble qualifying for a fixed rate mortgage at today's interest rates?
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