Understanding Adjustable Mortgage Rates and How They Work An adjustable-rate mortgage (ARM) is different from a fixed-rate mortgage because the interest rate isn't locked in for the entire loan term. With an ARM, your rate is fixed for an initial period—such as three or five years—and then it adjusts periodically after that. For example, if you take out a 5/1 ARM, your rate will remain the same for the first five years, but starting in year 6, it will reset and change each year based on the mark

This or That: Fixed vs. Adjustable Mortgage 🏡💭 🔹 Fixed Rate Mortgage or 🔹 Adjustable Rate Mortgage ✨ Here’s the difference: 📌 Fixed Rate = Same interest rate for the life of the loan. Predictable payments, long-term peace of mind. 📌 Adjustable Rate (ARM) = Lower rate upfront, but it can change over time based on the market. 💡 Which makes sense in Colorado Springs right now? • Planning to stay long-term? Fixed may offer stability 🛡️ • Buying short-term or expecting a refinance? An ARM cou