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ARM Rate
What does a ARM rate adjustment will take into account?
Adjustable rate mortgages or ARM are 30 year mortgage loans with an initial fixed rate period and after that period is over, it adjusts every year for the remaining 30 years of the loan term. Adjustable rate mortgages are based on an index plus the margin. The index can be based on the COFI, CMT, LIBOR, or any other index that the mortgage lender sets it. The margin is constant for the life of the loan. Here is an article on adjustable rate mortgages.


Condotel mortgage loans and non-warrantable condo loans are all 30 year adjustable rate mortgages. Condotel financing and non-warrantable condominium loans are offered as 3/1 ARM, 5/1 ARM, and 7/1 ARM. Here is an article on ARM and condotel financing and non-warrantable condominium loans.



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