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4.5 out of 5|13,847 reviews4.5 out of 5|13,847 reviews
A lower initial monthly paymentChoose from 5, 7, or 10-year ARMsSave even more if rates drop later
Start with a lower rate than most 30-year fixed-rate loan options.
Pay less each month and keep more cash in your pocket for other expenses.
Lock in bigger savings if interest rates drop after your fixed-rate term.
Over 730K clients. 23 years’ experience. One goal: helping you build a brighter future.
See your best loan options with technology that analyzes your finances in real time.
Pick the right loan and term that helps you achieve your unique homeownership goals.
Get approved and funded quickly, so you can enjoy your new financial freedom.
See your best loan options with technology that analyzes your finances in real time.
Pick the right loan and term that helps you achieve your unique homeownership goals.
Get approved and funded quickly, so you can enjoy your new financial freedom.
One of the main advantages of an adjustable-rate loan is the initial lower interest rate term, where your monthly payment will remain the same for the initial period before rate adjustments start. This helps with budgeting because you’ll know how much your monthly principal and interest payments will be for 5, 7, or 10 years.
As you explore different types of home loans, choosing between an ARM loan and a fixed-rate loan will depend on your financial profile and risk tolerance as well as market rates. If you don’t plan on staying in your home for a long period, usually less than 10 years, then an ARM could be a good option to take advantage of the initial lower interest rate. However, a fixed-rate loan may be the better option if you prefer predictability.
To help you decide between an adjustable or fixed rate, speak with one of our Loan Experts to discuss your loan options.
Yes, you can refinance an ARM loan. Refinancing can help you secure a lower interest rate or change the terms of your loan.
Yes, an adjustable-rate mortgage (ARM) and a variable-rate mortgage are the same. Both terms refer to a home loan with an upfront fixed-rate period and scheduled rate increases afterward.
Yes, you can pay off your ARM loan early. Making extra payments — or paying off the loan entirely ahead of schedule — can help you save on interest over time, especially if you plan to stay in your home beyond the initial fixed-rate period.
Some ARM loans come with prepayment penalties, which are fees charged if you pay off your loan within a certain time frame (usually the first few years). AmeriSave doesn’t include prepayment penalties on any of our ARM loans.
After the initial fixed-rate period, an ARM loan’s interest rate adjusts periodically based on an underlying market index such as the prime rate or the Secured Overnight Financing Rate (SOFR). Your adjusted rate is the index rate plus a set margin determined by your lender. ARMs also come with rate caps that protect you from large increases in interest rates.
