With an adjustable rate loan, the interest rate and monthly principal and interest payment are the same for the initial loan term selected which can be 3, 5, 7, or 10 years.  After this time has expired, the rate is adjustable annually for the remaining loan term.  Like fixed rate loans, there are a variety of terms available to choose from.

Speak to one of our experts today to see if this is the right option for you!