1 Year Adjustable Rate Mortgage

A 1 year adjustable rate mortgage is fixed for the first year of the loan and adjusts every year for the remaining 29 years of the loan. The 1 year adjustable rate mortgage loan has a bit more risk involved to the borrower and thus, generally carries a low interest rate. The interest rate for the 1 year adjustable rate mortgageis based upon a margin and an index value used by the lender. Call an Alerio representative today for more information about a 1 Year Adjustable Rate Mortgage.