Most homebuyers will want to base their choice of loan and its initial rate period on the number of years they expect to keep the property or the mortgage. (themortgagereports.com)
But at the end of the ARM loan's initial rate period, the interest rate and monthly principal and interest payment could go up. (bbvacompass.com)
* 5 -, 7 -, and 10 - year hybrid ARM come with adjustment caps of two percentage points (after the initial rate period expires), and lifetime caps of six percentage points. (fhaloanpros.com)