A 5/1 adjustable-rate mortgage, or ARM, is a mortgage loan that has a fixed rate for the first five years, and then switches to an adjustable-rate mortgage for the remainder of its term. Once a year after that initial five-year period, the interest rate can be adjusted up or down, depending on a number of factors.

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 · What is the difference between a fixed-rate and adjustable-rate mortgage (ARM) loan? The difference between a fixed rate and an adjustable rate mortgage is that, for fixed rates the interest rate is set when you take out the loan and will not change.

Put simply, the 5/1 ARM is an adjustable-rate mortgage with a 30-year loan term that’s fixed for the first five years and adjustable for the remaining 25 years. So during years one through five, the interest rate never changes. If it starts at 4%, it remains at 4% for 60 months.

A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets.

With an adjustable-rate mortgage or ARM from PNC, your interest rate may change. compare 5/1, 7/1 and 10/1 ARM mortgage rates.

A mortgage lender will want to look at the most. "If you are likely to be in a home for fewer than five years, then a 5/1.

 · 5/1 ARM Mortgage Definition. There are essentially two main types of mortgages. A 5/1 ARM mortgage is a hybrid mortgage that combines fixed and adjustable mortgages into one loan. In a 5/1 ARM, the five indicates the number of years your interest rate will remain fixed. Arm definition, the upper limb of the human body, especially the part extending from the shoulder to the wrist. See more.

What Is A 5/1 Adjustable Rate Mortgage 5/1 and 5/5 adjustable rate Mortgage – JSC FCU – A 5/5 ARM Loan is a loan that has an adjustable interest rate. Your rate is locked in for five year increments and can adjust every fifth year.

ARM Basics. A fixed rate mortgage doesn’t throw unexpected surprises at homebuyers, and people with good credit can usually secure a fixed rate loan with a decent interest rate. An ARM, on the other hand, has an adjustable interest rate. Usually, with ARMs, the interest rate remains the same for a set period of months or even years.

5 Year Adjustable Rate Mortgage Mortgage Rates Slide To Start Year – A year ago at this time, the 15-year FRM averaged 3.44 percent. The 5-year treasury-indexed hybrid adjustable-rate mortgage or ARM averaged 3.45 percent, down from last week’s 3.47 percent. It was.