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Adjustable Rate Mortgages

Adjustable-rate mortgages are home loans with interest rates that vary based on changes in market interest rates.

Adjustable-rate mortgages are usually offered with 30-year terms.

The initial rate for an adjustable-rate mortgage is usually slightly lower than for a fixed-rate loan. That initial rate remains constant during an introductory period. As a general rule, the shorter the introductory period, the lower the initial interest rate. Often the fixed introductory period is set based on the length of time the borrower expects to own the home.

After the introductory period expires, the interest rate is subject to adjustment at predetermined intervals—usually every six months. Rate adjustments are based on market interest rates, but adjustment caps limit how much an interest rate can change in a specified time period.

Often, adjustable-rate mortgages offer borrowers the option of an interest-only loan for a fixed period of time. This results in a lower payment for that period.

Adjustable rate mortgages may be a good choice if you don’t plan to own the home for a long period of time, or if interest rates are high and expected to come down.

We can tell you more about adjustable-rate mortgages.


What Our Customers Say

I am writing to bring to your attention the superior service I have received from your employee Ian Clardy. Throughout my recent mortgage application process, Ian has not only provided consistently clear, professional communication, but he also has always gone above and beyond to patiently and expediently address any of my concerns that arose along the way. In the 20+ years I have owned properties, and having gone through the mortgage and refinancing process at various points in between, I can honestly say that Ian was hands down the most responsive and service-oriented mortgage consultant I have ever worked with. His efforts to accommodate Trident’s customers should be commended. It is largely the result of my interaction with Ian that I will from this point forward unreservedly recommend Trident to friends, family, and colleagues alike. Ian is indeed a rare commodity, in the best sense of that term, and I believe that he is a tremendous asset to your organization. If you would like to talk with me further about my experience working with Ian, please do not hesitate to contact me. Sincerely, Dr. Edward J. Carvalho

~ Dr. Edward J. Carvalho