15/15 Arm

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The 15/15 Adjustable Rate Mortgage is the best choice if you want a loan with low initial payments and the benefits of both a fixed and an ARM product. Find out if a 15/15 ARM is the right loan for you. Whether you are buying your first home, refinancing or moving to a brand new house, our loan.

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I did see something online at another bank called a 15/15 ARM, where it only adjusts once after 15 years. Can’t find anything about a 10/15 ARM though. Part of me is wondering if it’s a typo on their website, since it’s in a list of: 3/1, 5/1, 7/1, 10/15.

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The 15/15 ARM certainly isn’t the highest risk adjustable-rate mortgage out there, but it could be a bad move if the 10-year yield surges over the next decade and change. Still, with a reduced, fixed rate for 15 years, you could save a decent chunk of money before refinancing your mortgage or selling prior to that first adjustment.

15/15 ARM: Available on purchases and refinances. Not available for applications without a property address (pre-purchase). Not available for applications without a property address (pre-purchase). The initial rate is fixed for 15 years (180 months).

Increased Home Buying Power with a 15/15 ARM! (1) Receive a 30-year mortgage at a 15-year rate! The 15/15 Adjustable Rate Mortgage is the best choice if you want a loan with: Low initial payments; The benefits of both a fixed and an ARM product; advantages: interest rate adjusts once at the 16-year mark

ARM products contain 2 numbers: The first refers to the number of years the interest rate will remain fixed. The second is the number of years between interest rate changes after the initial fixed term expires. For example, a 5/5 ARM would have the same interest rate for the first 5 years, and then the rate would adjust every 5 years after that.

A 15/15 ARM is a specific type of adjustable-rate mortgage where the interest rate is fixed for 15 years, it adjusts once and then it remains at that new interest rate for the remaining life of the loan.

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