More Buyers Are Using Adjustable-Rate Mortgages Chart

Adjustable-rate mortgages (ARMs) can offer lower upfront payments. That’s why more buyers are giving them a second look these days.

But with an ARM, once the fixed period ends, your rate can change – which means your monthly payment will too. And there’s a chance it goes up. So, you need to be financially prepared for that.

And just in case the 2008 crash comes to mind when you think of ARMs, know this: today’s ARMs are different. Lending standards are tighter now.

If you think an ARM might be right for you, make sure to talk with a lender to understand your options and assess your risk tolerance.

#AdjustableRateMortgage #Homebuying #KeepingCurrentMatters

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