Home personal loans Adjustable-Rate Mortgages

Adjustable-Rate Mortgages Photo Adjustable-Rate Mortgages

With a lower initial rate, it may be right for you.

An adjustable-rate mortgage, or ‘ARM,’ is a mortgage in which the interest rate may fluctuate based on market conditions. Initial interest rates of ARMs are typically lower than on a fixed-rate mortgages. It may be right for you if you think you’ll live in your home for just a few years or if you want the low rate now and think your income will rise or rates will lower after that expiration period.

Visit our Online Mortgage Center to view current rates, compare loan programs and calculate payments!

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Features of an ARM include:

  • Interest rate and monthly principal and interest payments that remain the same for a specific term, then adjusts annually.
  • A variety of loan term options.
  • An interest rate cap, setting a limit on how high your interest can go.

Standard credit qualifications apply.

View our Featured Rates in our Online Mortgage Center.

How do I know if an adjustable-rate mortgage is right for me?

If you want a lower initial rate and believe you might move in just a few years, it might be the right option for you. You can visit our Online Mortgage Center to do various loan calculations as you discover the answer to this question.

Will I need a downpayment? How much?

The answer is almost always yes, though specialty loans do exist. How much you’ll need depends on the type of loan you choose. You can look at various scenarios using our online mortgage calculators.

What is escrow?

Escrow are funds included in your monthly mortgage payment to cover your taxes and homeowner’s insurance. Your bank keeps these funds in an account to make payments on your behalf.

Amber Lampe's Image

Amber Lampe

Assistant Vice President, Mortgage Loan Officer | NMLS#408908

Location: Urbandale Main Office

Work Phone: (515) 254-9000

Charlie Larson's Image

Charlie Larson

Vice President, Mortgage Loan Officer | NMLS#493731

Location: Storm Lake Main Office

Work Phone: (712) 732-2190

Chris Jenness's Image

Chris Jenness

Assistant Vice President, Mortgage Loan Officer | NMLS#493730

Location: Cherokee Main Office

Work Phone: (712) 225-2546

Christopher Krueger's Image

Christopher Krueger

Assistant Vice President, Mortgage Loan Officer | NMLS#728693

Location: Sioux City Main Office

Work Phone: (712) 293-2265

Cindy Mart's Image

Cindy Mart

Vice President, Mortgage Loan Officer | NMLS#493726

Location: Spirit Lake Main Office

Work Phone: (712) 336-4100

Dianna Menefee's Image

Dianna Menefee

Assistant Vice President, Branch Manager II, Mortgage Loan Officer | NMLS#493728

Location: Sioux City Morningside Branch

Work Phone: (712) 233-2929

Haley Greenwood's Image

Haley Greenwood

Mortgage Loan Officer | NMLS #1426798

Location: Ankeny Main Office

Work Phone: (515) 473-7033

Karen Benecke-Renken's Image

Karen Benecke-Renken

Mortgage Loan Officer | NMLS#400191

Location: West Des Moines Mills Civic Branch

Work Phone: (515) 222-1144

Vicki Davis's Image

Vicki Davis

Vice President, Managing Mortgage Loan Officer | NMLS#406039

Location: Urbandale Main Office

Work Phone: (515) 254-9000

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