
Well…I happen to know a lender that has amazing pricing on an adjustable rate mortgage. For example, a five year adjustable rate mortgage would be 3.375% and for interest only, $3.625%. A 7 year adjustable rate mortgage is 3.5% and for interest only, $3.75%.
An adjustable rate mortgage that does change for 5, 7, or 10 years may allow a buyer or owner seeking refinance to weather this high interest rate environment to a time when interests rates are lower and the loan can be refinanced with a fixed rate loan, if desired.
Contact me for more details!