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  2. What is a 5/1 adjustable-rate mortgage (ARM)? - AOL

    www.aol.com/finance/5-1-adjustable-rate-mortgage...

    Let’s say you take out a 5/1 ARM loan for $300,000 with a 6.5 percent interest rate. For the first five years of the 30-year loan, your rate would be locked in at 6.5 percent, making your ...

  3. Adjustable-rate mortgage - Wikipedia

    en.wikipedia.org/wiki/Adjustable-rate_mortgage

    The "hybrid" refers to the ARM's blend of fixed-rate and adjustable-rate characteristics. Hybrid ARMs are referred to by their initial fixed-rate and adjustable-rate periods, for example, 3/1, is for an ARM with a 3-year fixed interest-rate period and subsequent 1-year interest-rate adjustment periods.

  4. Adjustable-rate mortgages: What they are and how they work - AOL

    www.aol.com/finance/adjustable-rate-mortgages...

    5/6 and 5/1 ARMs: 5/6 and 5/1 ARMs offer a fixed intro rate for the first five years of the mortgage, then switch to an adjustable rate for the remaining 25 years. 5/6 ARMs adjust every six months ...

  5. ARM loan requirements in 2024 - AOL

    www.aol.com/finance/arm-loan-requirements-2024...

    An ARM could be worth it if you plan to live in your new home for only five to 10 years, moving before the fixed-rate intro period ends. An adjustable-rate mortgage (ARM) is a home loan whose ...

  6. Mortgage and refinance rates for Dec. 20, 2024: Average rates ...

    www.aol.com/finance/mortgage-and-refinance-rates...

    10-year fixed rate. 6.02%. 5/1 adjustable rate mortgage. 6.49%. 30-year fixed FHA rate. 6.87%. 30-year fixed VA rate. 6.65%. 30-year fixed jumbo rate. 6.95%. Refinance rates for Friday, December ...

  7. Pros and cons of an adjustable-rate mortgage (ARM) - AOL

    www.aol.com/finance/pros-cons-adjustable-rate...

    An adjustable-rate mortgage (ARM) has an initial fixed interest rate period, typically for three, five, seven or 10 years. Once that period ends, the interest rate adjusts at preset times for the ...

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