Adjustable Rate PA Mortgages (ARM)
An adjustable rate mortgage or “ARM” is a loan typically suited for homeowners who plan to own their property for a relatively short amount of time. The interest rate is lower than a conventional fixed rate. Nations Home Loans offers ARM products with a fixed period for 3, 5, or 7 years. After that, the rate will increase or decrease once per year based on the 1-year London Interbank Offered Rate (LIBOR).