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Adjustable Rate Mortgage Programs

The adjustable rate mortgage loan program offers Home Buyers and home owners in Chattanooga, TN and beyond great new opportunities to manage their personal finances. In most instances, the typical ARM program allows both home buyers and home owners an optional interest only payment option for a set period traditionally equal to the fixed period of the loan. This frees up income to use toward other financial investments and still provides the home owner with additional tax advantages.

At, we offer residents of Jackson, MS and those who live in the other cities we serve, One Month ARM's, 6 month Adjustable Rate Mortgage Programs, in addition to the very popular 3/1 ARM, 5/1 ARM, 7/1 ARM, and 10/1 ARM tied to the Constant Maturity Treasury (CMT) - or London Interbank Offered Rate (LIBOR) - indexed adjustable rate mortgage options. In most instances, each includes the outstanding option of paying interest-only for periods of up to 3, 5, 7, or 10 years respectively, then a fully amortizing adjustable-rate period for the remainder of the 30-year term. This loans provide just the sort of flexibility that our clients in Birmingham, AL and beyond really appreciate.

Find yourself with challenged credit? We also offer several adjustable rate Bad Credit Loan options for clients with less than perfect credit. They include 2/2/8 and 3/2/7 ARM programs specially designed to help you get back on your credit feet.

Almost all of our Adjustable Rate Mortgage Programs can be used when applying for:

Call today to speak with one of our professional mortgage loan counselors about our many adjustable rate mortgage loan programs, or just complete our online Quick Apply application for a super fast response!

1/1 Adjustable Rate Mortgage

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Whether you are buying in Charlotte, NC or Kansas City, Missouri, this product is designed to serve those who are moving to an area for a short-term assignment and wish to buy rather than rent. The One Year Fixed Adjustable Mortgage program provides home buyers and owners with an option of paying interest only or paying a fully amortizing payment program. The first year is fixed, but each of the following years has a rate adjustment based upon the index the program is tied to. It is typically easy to get a Refinance Loan should the short-term relocation require a more permanent and stable mortgage payment structure.

The 1/1 ARM Features include:

  • A Fixed Period of 1 Year
  • Can be Tied to Either the CMT or LIBOR Index
  • Optional Interest Only
  • Interest Rate Adjusts Once a Year
  • Option 1/6 Program providing for Lower Adjustments done Biannually, or every 6 months after the fixed period.
  • Fully Amortizing Period of 29 Years After the First Year
  • Typical Cap Structure 2/2/6
  • Quick Apply

3/1 ARM Mortgage

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The 3 year fixed adjustable rate mortgage provides added payment stability which is ideal for business professionals in St. Louis, MO, members of the military in Fayetteville, North Carolina, or other individuals who expect a short-term assignment within a community, but prefer to own a home Vs. renting. The 3 year fixed provides important payment stability, allows the home owner to pay interest only, and should conditions change and an assignment become prolonged, provides for gradual annual increases which typically meet the traditional annual cost of living increases experienced by most employees within their respective career fields. If the home owner elects, this program typically makes it simple to Refinance to a Fixed-Rate should the move become permanent.

The 3/1 Adjustable Mortgage Features include:

  • A Fixed Rate Period of 3 Years
  • Indexed on Either the CMT or LIBOR
  • Interest Only Option
  • Rate Adjusts Annually after the Fixed Period -or-
  • Optional 3/6 Program With Provided for lower Biannual Adjustments after the Initial Fixed Period
  • Fully Amortizes over 27 Years after the Fixed Period
  • Typical Cap Structure is 2/2/6
  • Quick Apply

5/1 Adjustable Rate Loan

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The 5 year fixed adjustable mortgage program is absolutely ideal for the First Time Buyer or real estate Investor Loan who is buying and holding property. Statistically, the average home buyer purchasing a first home will move by the 5th year of their mortgage. The 5 year fixed option allows home buyers and investors to purchase at a lower than traditional rate and provides an option of paying interest only. This provides both the home owner and investor the ability to build equity as the property appreciates and to use that equity in the future for their next property purchase. The loans interest only option allows borrowers to bank the portion of payments normally dedicated to repaying the principal, making it an ideal loan for borrowers who need flexibility to meet the immediate financial needs of today.

The 5/1 ARM Program Features include:

  • An Outstanding 5 Year Fixed Period
  • Tied to Your Choice of either the CMT or LIBOR Index
  • Interest Only Options
  • Annual Rate Adjustments After the initial 5 Year Fixed Period
  • 5/6 Optional Program Providing Biannual Adjustments
  • Amortizes over 25 Year Period after the Fixed Loan Period
  • Typical Cap Structures Include: 2/2/6 and 5/2/6
  • Quick Apply
7/1 Adjustable Rate Mortgage

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The Seven year fixed ARM loan is a unique balance of a fixed and an adjustable rate mortgage. For those home owners and home buyers seeking a lower than traditional fixed rate mortgage, who are really unsure whether they will remain in the home, this adjustable rate program can provide you with both stability and flexibility. The 7/1 mortgage program allow you to pay interest only and/or allows the option of making principal and interest payments. After the seven year fixed period, the annual rate adjustment provides for a very manageable and comfortable annual payment adjustment.

The 7/1 Adjustable Loan Features Include:

  • A Balanced 7 Year Fixed Rate Loan Payment Period
  • Rate Indexing For Adjustment Period can use either the CMT or LIBOR Index
  • Outstanding Interest Only Options
  • Annual or Bi Annual (7/6) Rate Adjustments after the Seven Year Fixed Period
  • Fully Amortized over a 23 Year Period after the optional Interest Only Period
  • Typical Cap Structure is 5/2/6
  • Quick Apply
10/1 ARM Program

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The most stable of all of the Adjustable rate programs, the ten year fixed adjustable rate mortgage is a perfect balance between rate reduction and security. For home buyers and owners who want the advantages provided by an ARM program, the 10 year fixed option allows a long term outlook for payment stability and can be coupled with the outstanding Interest Only option provided for with our other traditional ARM programs.

The 10/1 Adjustable Rate Loan Features Include:

  • The Tremendously Advantageous 10 Year Fixed Period
  • Index for Rate Adjustment, after the fixed period, can be either the CMT or LIBOR index
  • Interest Only Option for Cash Management
  • Annual and Biannual - 10/6 - rate increases which occur only after the Fixed Period of the Loan
  • Typical Cap Structure Uses the 5/2/6 Adjustment model
  • Quick Apply
Option ARM Mortgage Program

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Mortgage Program Notice

The option ARM mortgage loan program, also known as the "Pick A Payment Mortgage" or the "Negative Amortization Home Loan", is an outstanding vehicle for cash flow management and equity rich but cash poor home owners. In many instances, this program has no income verification, allowing virtually everyone with sufficient equity in their home to get approved. With annual housing appreciation, many home owners can utilize existing equity at a very reduced net cost Vs. what their home is worth today, and what their home will be worth at the end of the negatively amortizing cycle. With the pick a payment option, this is an outstanding loan product for both short- and mid-term financial strategies.

The Option ARM Mortgage Program Features Include:

  • 1 ¼ percent payment start rate
  • Optional Payment plans every month. Pay the minimum, pay interest only, pay principal and interest, etc.
  • Gradual adjustments
  • No Income Verification - in most instances
  • Negatively amortizing payment structure, fully controlled by you
  • Quick Apply

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