7 Year Morgage: This is one of the more popular types of Adjustable Rate Morgages available
today. This is due to the combination of security and savings offered by the loan. As far as savings
go, it offers a rate that is typically below that of the 30 year fixed loan. Since the rate is
fixed for the first 7 years of the loan there is ample room to prepare for any changes to your
economic situation prior to the expiration of those 7 years. In other words, the rate is fixed for
long enough that you aren't caught off guard if the rates are starting to rise.
The loan operates as most other ARM's do: the initial rate is fixed for 84 Months and after that
initial period the payments and rates may increase or decrease depending on the Index. This loan
is especially beneficial for those folks that expect to be in their home for at least a few years
but would like to take advantage of interest rates that are less than the 30 year terms. If you'd
like to take advantage of this great loan program simply give us a call or fill out the short
application on this page.
7 Year Morgage - Get A Refinance Quote For A New 7 yr ARM...
