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FHA Fixed Rate Loans

FHA Loans Adjustable  Rate Mortgage Loans

You'll sometimes hear these loans called "ARMS", which simply stands for adjustable rate mortgages. Adjustable rates mortgages or ARMS are designed to enable people to obtain a mortgage loan at lower initial interest rates and smaller down payments.

The interest rates are guaranteed to stay at this low rate for at least the first year and can last up to 2 years. Thereafter the interest rate will "adjust" to whatever the going rates are at that time. Your house payment will increase at that time .

Adjustable rate mortgages have risen substantionally in 2004.

 
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