Adjustable Rate Mortgages (ARM) may provide you with the flexibility of a lower starting interest rate and initial monthly payment. ARM loans are well-suited for people who don't plan to stay in the property long-term, or expect their income to rise over time. It is important to keep in mind that the rate adjusts based on market rates, and fluctuates periodically based on financial market conditions, which may result in a higher monthly payment.
Terms: A variety of terms are available. For details, contact your local Regions Mortgage Loan Originator.
Term Description: Adjustable Rate Mortgages (ARM) have an interest rate that is fixed for an initial period (1, 3, 5, 7 or 10 years) and becomes adjustable annually for the remainder of the loan term. For example, a 5/1 ARM would have a fixed interest rate for the first five years and then the rate will adjust annually for the remaining term of the loan.
Loan-to-Value: Loan-to-value refers to the ratio of the mortgage loan's principal to the property's appraised value or its sales price, whichever is lower.
Loan Amount Limits: For maximum amounts, contact your local Regions Mortgage Loan Originator.
In addition, Regions offers government-supported adjustable-rate financing options such as FHA loans, which are backed by the Federal Housing Administration. Please contact your nearest Regions office for terms, loan limits and other details on FHA loans.
Learn more about adjustable rate mortgages and other loan type options by reviewing the disclosures provided below:
For more information about adjustable rates mortgages, please locate a Regions Mortgage Loan Originator or give us a call at 1-877-536-3286.
Loan specific disclosures will be provided upon application.
Subject to Credit Approval