Adjustable Rate Mortgages (ARMs) begin with a fixed interest rate and then adjust up or down after the initial term. The benefit of an ARM is it can limit how much interest rates might increase over the life of your loan. Pinnacle Bank has a couple of ARM loans available so you have term options.
Stop by a branch to learn more from our knowledgeable Mortgage Loan Officers. They can provide you options and details on the loans.
An Adjustable Rate Mortgage has these benefits:
- *Lower rates and payments in the early term
- Having the stability of an unchanging rate for a set amount of time allows you to accurately budget each month.
- If you plan on selling or refinancing before the fixed period is up, an ARM offers borrowers a less expensive way to purchase a home.