5/1 Year Adjustable Rate Mortgage

A 5/1 ARM has a fixed interest rate and monthly payment for the first five years of the loan based on the index and margin used. The interest rate will be between that of a 7/1 ARM and the shorter term ARM products (3/1, 2/1, 1/1, 6 month, and 1 month). Like the 10/1 and 7/1 ARM's, this product is available on properties ranging from owner occupied to investments.