ADJUSTABLE RATE MORTGAGE
3/1 • 5/1 • 7/1 • 10/1
Progressive Lending Solutions offers some of the most competitive adjustable rate mortgages (ARM) in Minnesota and Wisconsin. Whether you’re looking for a 3/1, 5/1, 7/1 or a 10/1 ARM, with a 30 year amortization, an adjustable rate mortgage could provide short term fixed rate programs. Most of the time, adjustable rate mortgages have lower interest rates than the conventional fixed rate mortgage products.
Future market conditions can influence rate changes; however, built in rate caps and margins provide a measure of security and limited increases over the life of the loan. As with our conventional loan products, PMI is usually required for loans with less than 20% equity or down payment.