ADJUSTABLE RATE MORTGAGE
An Adjustable Rate Mortgage (ARM) is a more flexible alternative to traditional fixed rate mortgages. If you prefer lower initial payments and have more financial flexibility, then this may be the option for you. When compared to a traditional fixed rate mortgage, this mortgage option typically has a lower initial interest rate for the first 5 to 7 years, and the initial fixed interest rate period can be customized to suit individual needs. After the initial period has passed, the interest rate will reset accordingly to the current indexed rate in the market plus a certain margin agreed at closing.
Adjustable rate mortgage has some of the lowest rates that Sun West has to offer, and may be suitable for you if you belong to one of the following descriptions:
- You are a savvy investor who requires a more flexible, customizable mortgage to complement the property investment with renovating/remodeling a property for resale at a later time and require the short-term capital to cover your investment.
- You are an individual who plans to stay in a home for only a few years.
- You are required to relocate your work or residence and plan to sell your home in the near future and would like to save more money initially.
- You are looking for a temporary second home or an investment property for renting out in which you are able to readjust your rental income accordingly.
- You are looking to expand into a bigger home in the future with your family and would like to build up some savings before you make the move.
Sun West Mortgage offers a full range of loan terms for your adjustable rate mortgage and our knowledgeable staff of licensed mortgage professionals will be able to assist you, even if it's your first time with an adjustable rate product. We would be more than happy to guide you through every step of the way.
We make the process simple and easy!
- Submit your online application
- Provide all the necessary documentation such as your income information, property information.
- We will issue a full approval and order value check on your property.
- Once acceptable value is established, you will sign your paperwork.
Take advantage of our great rates today!