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Mortgages

Adjustable-Rate Mortgage

A lower starting rate that adjusts on a stated schedule, with caps to limit how much it can change.

Initial rate

Lower start

Limits on increases

Caps

On a set schedule

Adjustable

Typical term

30 yr

What you get

Every product comes with clear pricing, straightforward terms, and access to a banker who can answer questions before and after you open it.

Lower initial payment

The starting rate is typically below the fixed-rate equivalent.

Rate caps

Lifetime and periodic caps limit how much your rate can increase.

Stated adjustment schedule

The reset frequency and index are disclosed before you sign.

Refinance to fixed

Many borrowers refinance to a fixed rate once their budget allows.

Common questions

Answers to the things people ask most about this product.

What happens at reset?

The rate adjusts by the index plus a stated margin, subject to your caps.

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