Adjustable Rate Mortgages

GTE Financial offers a variety of Adjustable Rate Mortgages, including ARMs that don’t have an annual rate change.

A big reason why home buyers like ARMs is the low Annual Percentage Rate at the beginning of the loan; if you are not planning on staying in your home for longer than 10 years, you can benefit from a lower rate with the understanding you may be moving prior to the rate becoming too expensive. The lower rate of an ARM provides a lower initial monthly payment and increased purchasing power. Unlike a Fixed Rate home loan, the APR will be determined by the market, and therefore can fluctuate and increase over time.