Understanding Adjustable Rate Mortgages in Fort Myers, Florida

Do I qualify? Most homeowners get into adjustable-rate mortgages for the lower initial payment, and then usually refinance the loan when the fixed period ends. At that time, the interest rate becomes variable, or adjustable, and the homeowner would likely refinance into another ARM, something fixed, or sell the home outright.

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Our Adjustable Rates Are Low & Our Process is Quick & Painless

An ARM is an Adjustable Rate Mortgage. Unlike fixed-rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically. The initial interest rate of an ARM is lower than that of a fixed-rate mortgage, consequently, an ARM may be a good option to consider if you plan to own your home for only a few years; you expect an increase in future earnings; or, the prevailing interest rate for a fixed mortgage is too high.

We’re here to make it a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Adjustable Rate Mortgage Qualifier.

We’ll help you clearly see the differences between loan programs, allowing you to choose the right one for you – whether you’re a first-time homebuyer or a seasoned investor.

Here’s how the process works:

  • Complete our simple Adjustable Rate Mortgage Qualifier
  • Receive options based on your unique criteria and scenario
  • Compare mortgage interest rates and terms
  • Choose the offer that best fits your needs

Adjustable Rate Mortgages in Fort Myers, Florida

Why You Should Consider an Adjustable Rate Mortgage in Florida

Oftentimes people hear “adjustable-rate” and think, “No way. I can’t have my interest rate changing all the time!” But once you understand what an ARM is and how it works, you may realize that it’s the perfect product for your current situation.

Some of the pain points that can squash the dream of purchasing a home are:

  1. Unaffordable interest rates for fixed-rate mortgages
  2. Monthly mortgage payments that exceed debt-to-income
  3. Excessive monthly income tied up in housing expenses

The advantages of using an adjustable rate mortgage in Fort Myers, Florida are:

  • Lower initial interest rate
  • Lower initial monthly payment
  • Interest rate changes at intervals, so no need to refinance if rates drop
  • As rates drop, your monthly payment can drop
  • Frees up more of your cash

The professionals at Fort Myers Mortgage Experts are not going to get you into an Adjustable Rate Mortgage just to close the deal, but because it is the RIGHT deal to close for you.

Who Should Consider Getting an Adjustable Rate Mortgage in Florida?

An ARM is not for everyone, but for some, it can be a very useful and lucrative loan product. At Fort Myers Mortgage Experts, our focus is on matching your needs with the ideal loan product. That’s the DiGregorio Difference. We’ll review your current situation and needs, and discuss if you’re a good candidate for loan options like an adjustable-rate mortgage, sometimes referred to as a Variable Rate Mortgage.

You may want to consider an ARM if:

  • You only plan to be in the home for a few years
  • Trends are indicating that interest rates will decrease over the next few years
  • You want to use more of your current income for higher-yield investments

ARMs can work great for starter homes, particularly for singles or new families who plan to upgrade within 2-5 years. The lower total cost can allow them to save more for a down payment on their next home.

Contact Fort Myers Mortgage Experts for Your Free Quote on an Adjustable Rate Mortgage in Fort Myers, Florida

There’s no time like today to start making plans for your future, and that includes finding the perfect mortgage for the perfect home. Contact Fort Myers Mortgage Experts today and let us be your guide. Whether first-time home buyer or experienced investor, we have the skills, knowledge, and experience to help.

Get Your FREE Adjustable Rate Mortgage Quote Now!

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