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Adjustable Rate Mortgages

An adjustable mortgage is one whose interest rate, and consequently monthly payments, fluctuates over the period of the loan.  With this type of mortgage, periodic adjustments based on changes in a defined index are made to the interest rate.  ARM’s offer a small starting period which is fixed and once this initial period ends, the interest rate adjusts to the market.  This comes at a risk since the rates are prone to fluctuate.  One month’s payments may be higher or lower. With this risk the initial payments are typically lower.


They however have the potential to save you a respectable portion of money.  ARM’s have something called a Rate Adjustment Cap.  This is a limit to how high the rate can fluctuate.  This is a protection set in place so that your monthly payment does not rise so high that you cannot pay.

If you have any further questions if this is the accurate option for you, we recommend you speak to one of our qualified representatives.  Give us a call today at 718-274-1234.

Mortgage World Bankers, Inc.
(NMLS Company ID# 7116, in New York holds a Mortgage Banker License (# B500764) and Mortgage Banker Branch Licenses for Astoria, NY (NMLS ID 558838), (NMLS ID 1081208) and for Flushing, NY (NMLS ID 64452) Branch Offices approved by the New York Department of Financial Services, Phone(212)709-3500; in New Jersey holds a Residential Mortgage Lender License (#9947218) and a Residential Mortgage Lender Branch License for Englewood Cliffs, NJ Branch Office (NMLS ID 336925) approved by the New Jersey Department of Banking and Insurance, Phone: (609)292-7272; in Connecticut holds a Mortgage Lender License (# 12674) approved by the Connecticut Department of Banking, Phone: (860)240-8140; in Florida holds a Mortgage Lender License (# MLD638) approved by the Florida Office of Financial Regulation, Phone: (850)410-9895; and in Pennsylvania holds a Mortgage Lender License (# 29750) approved by the Pennsylvania Department of Banking and Securities, Phone: (717)787-2665.