Month: August 2021

7-1 ARM loans are a type of mortgage loan with a fixed rate for the first seven years and an adjustable rate for the remainder of the loan term. ARM loans are referred to as adjustable-rate mortgage loans. Refinancing with a 7-1 ARM loan can be a strategic opportunity for homeowners, specifically those looking to …

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A 7-1 adjustable-rate mortgage or ARM carries a fixed rate of interest for the first seven years of your loan’s term with a fixed interest and principal payments. After seven years, the rate of interest changes depending on many different factors. This is attractive to borrowers because there are going to be lower interests to …

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