What you’ll see in this video is, an Adjustable Rate Mortgage (ARM) may make sense if:
- you are confident that your income will increase steadily over the years
- you anticipate a move in the near future and aren’t concerned about potential increases in home loan interest rates
ARMs generally offer lower initial interest rates. Monthly payments can be lower. And they may allow you to qualify for a larger home mortgage loan amount.
Make sure you understand the terms, risks and potential costs and compare all options before deciding.