ARM or Adjustable Rate Mortgage Loans in Kentucky
Adjustable rate mortgage (ARM) Usually offers a lower initial
interest rate and lower interest payments than most fixed-rate
mortgages. However, payments will adjust up and down based
on a specific interest rate index (such as the LIBOR rate) plus
an additional amount, called a margin. These adjustments occur
at times specified in the loan documents and can result in significant
payment increases. Rate caps at each adjustment and over the life
of the mortgage may offer some protection against these increases
Reasons to choose an ARM
Lower initial interest payments.
If rates drop, payments may become lower
without refinancing.
Reasons not to choose an ARM
If rates increase, interest payments increase.
People who choose an ARM
Those who are confident they can continue to make
payments even if principal and interest amounts
increase significantly.
Those who believe rates will remain low or even
decrease and want to easily take advantage of lower
principal and interest payments.
Borrowers who plan to own the home for a limited time
and believe home values are steady or increasing.
Questions to Ask the Loan Officer About ARMs or Adjustable Rate Mortgage In Kentucky
How much higher can my payments go when
the mortgage first adjusts?
(Assuming today’s interest rate, but remember, the rate will
likely be different when your fixed period ends.)
After the first adjustment, exactly when,
and how often, does my rate and payment
amount adjust?
What’s the most my payment can increase?
Fill out my free mortgage qualification for your next adjustable rate mortgage in Kentucky Click here to start!

I specialize in Kentucky FHA, VA, USDA & Rural Housing, KHC and Fannie Mae mortgage loans. I have helped over 589 Kentucky families buy their first home and refinance their current mortgage for a lower rate; First time buyer $0 down still available with down payment assistance with KHC. Free Mortgage applications same day approvals. This web site is not endorsed by the FHA, VA, USDA, HUD or any other govt agency.Text/call 502-905-3708 kentuckyloan@gmail.com NMLS#57916 Equal Housing Lender
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- 4 Things Required for a KY Mortgage Loan Approval
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- Zero Down Kentucky Mortgages
- First-time Home-buyers in Kentucky
- Documents Needed Mortgage Approval in Kentucky
- Do's & Dont's before closing:
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