LIBOR ARM

Compare a 30 year FRM with a 5-1 ARM

6 - Month LIBOR ARM

The Six Month LIBOR ARM is tied to the LIBOR (London Interbank Offered Rate) index, and adjusts at six month increments. A periodic rate cap limits the increase in your rate at each adjustment to no more than 1%. The rate on your LIBOR loan will never go higher than 6% over the start rate. And the loan is assumable.

Here are the details.

2/6 - LIBOR ARM

The 2/6 LIBOR ARM is tied to the LIBOR (London Interbank Offered Rate) index, and the interest rate may not change more than once every 6 months after the first 24 months based on the movement of the index. Fully amortized over 360 months. If an interest rate change occurs, the outstanding principal balance will be re-amortized over the remaining term of the Loan. A periodic rate cap limits the increase in your rate at each adjustment to no more than 1%. The rate on your LIBOR loan will never go higher than 6% over the start rate and the loan is assumable after the 24th payment.

Here are the details.

3/6 - LIBOR ARM

The 3/6 LIBOR ARM is tied to the LIBOR (London Interbank Offered Rate) index, and the interest rate may not change more than once every 6 months after the first 36 months based on the movement of the index. Fully amortized over 360 months. If an interest rate change occurs, the outstanding principal balance will be re-amortized over the remaining term of the Loan. A periodic rate cap limits the increase in your rate at each adjustment to no more than 1%. The rate on your LIBOR loan will never go higher than 6% over the start rate and the loan is assumable after the 36th payment.

Here are the details.

5/6 - LIBOR ARM

The 5/6 LIBOR ARM is tied to the LIBOR (London Interbank Offered Rate) index, and the interest rate may not change more than once every 6 months after the first 60 months based on the movement of the index. Fully amortized over 360 months. If an interest rate change occurs, the outstanding principal balance will be re-amortized over the remaining term of the Loan. A periodic rate cap limits the increase in your rate at each adjustment to no more than 1%. The rate on your LIBOR loan will never go higher than 6% over the start rate and the loan is assumable after the 60th payment.

Here are the details.

7/6 - LIBOR ARM

The 7/6 LIBOR ARM is tied to the LIBOR (London Interbank Offered Rate) index, and the interest rate may not change more than once every 6 months after the first 84 months based on the movement of the index. Fully amortized over 360 months. If an interest rate change occurs, the outstanding principal balance will be re-amortized over the remaining term of the Loan. A periodic rate cap limits the increase in your rate at each adjustment to no more than 1%. The rate on your LIBOR loan will never go higher than 6% over the start rate and the loan is assumable after the 84th payment.

Here are the details.

10/6 - LIBOR ARM

The 10/6 LIBOR ARM is tied to the LIBOR (London Interbank Offered Rate) index, and the interest rate may not change more than once every 6 months after the first 120 months based on the movement of the index. Fully amortized over 360 months. If an interest rate change occurs, the outstanding principal balance will be re-amortized over the remaining term of the Loan. A periodic rate cap limits the increase in your rate at each adjustment to no more than 1%. The rate on your LIBOR loan will never go higher than 6% over the start rate and the loan is assumable after the 120th payment.

Here are the details.

Got a followup question? Ask here and have a lending specialist answer it!

Your Name:

Your Email:

Add me to your newsletter mailing list.

Your question:

Load New Code

Powered by Web Wiz CAPTCHA version 2.01 Copyright ©2005-2006 Web Wiz Guide