What it is
An ARM starts with an introductory interest rate that is typically lower than a fixed-rate mortgage. After the initial period, the rate can adjust based on market conditions.
Who it may suit
Borrowers who expect to sell or refinance within a few years and are comfortable with some payment uncertainty.
Potential advantages
- Lower initial rate than many fixed options
- Lower initial monthly payment
Important considerations
- Payments can rise after the introductory period
- Harder to predict long-term costs
General eligibility factors
- Credit history
- Ability to repay at potentially higher adjusted rates
- Income and assets
Program guidelines and limits change. Contact Matthew for current requirements — this page is general information, not a commitment to lend.