ADJUSTABLE RATE (ARM) LOANS
Our ADJUSTABLE RATE (ARM) & TERMS:
Property Types
Single family, condos, townhomes, 2-4 unit
Loan Amounts
$75,000 – $970,800
Term
Fixed periods on the initial 5, 7, 10 years
An adjustable-rate mortgage (ARM) is a home loan with a variable interest rate. With an ARM, the initial interest rate is fixed for a period of time. After that, the interest rate applied on the outstanding balance resets periodically, at yearly or even monthly intervals. ARMs have caps that limit how much the interest rate and/or payments can rise per year or over the lifetime of the loan.
ARM can be a smart financial choice for homebuyers who are planning to keep the loan for a limited period of time. Financing a property with bank statement loans is a quick and straightforward process for an experienced lender like American Heritage Lending.
ADJUSTABLE RATE (ARM) FINANCING
Adjustable-rate mortgages (ARMs) aren’t for everyone. Yes, their favorable introductory rates are appealing, and an ARM could help you to get a larger loan for a home. An ARM can be a smart financial choice for homebuyers who are planning to keep the loan for a limited period of time. American Heritage Lending helps its clients access the flexible funding they need without the traditional income qualification standards.
WHY CHOOSE A Adjustable Rate (ARM) LOAN?
Many buyers will likely have difficulty getting loans through a traditional lender like a bank or credit union. With American Heritage Lending, we offer you a variety of financing solutions to fit your needs.
We understand the need to move quickly when opportunities arise. Our application, appraisal, and approval process can be accomplished in just a few days to ensure you can negotiate effectively with the property holder.
USE OUR ADJUSTABLE RATE (ARM) LOANS WHEN TRADITIONAL LENDING SOLUTIONS ARE NOT AVAILABLE
Traditional banks will often disqualify self-employed borrowers wanting to use their bank statement to qualify for a loan or charge them a high rate. This is because we calculate your “qualifying” income based on your taxable income. Business owners and self-employed individuals write off many of their business expenses, reducing their taxable income and their “qualifying” income.
In many cases, ARMs come with rate caps that limit how much the rate can rise at any given time or in total. Periodic rate caps limit how much the interest rate can change from one year to the next, while lifetime rate caps set limits on how much the interest rate can increase over the life of the loan.