Colorado Adjustable Rate Mortgages

Colorado ARM loans or Adjustable Rate Mortgages generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage here and could allow you to buy a more expensive home. Since ARM loans are easier to sell on the secondary market, lenders tend to give better PAR pricing for originated loans selling these loan products.

However, the interest rate changes at specified intervals (for example, every year) depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also.

There are also mortgages that combine aspects of fixed and adjustable rate mortgages - starting at a low fixed-rate for seven to ten years, for example, then adjusting to market conditions. Ask your mortgage professional about these and other special kinds of mortgages that fit your specific financial situation, Call us today and we can present all the options for you.

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