10 Year ARM
Your interest rate and monthly principal and interest payment are fixed for the the first ten years of the loan. Beginning in year eleven, your loan coverts to a 1 Year ARM. This means from year eleven to year 30, your interest rate and payment amount could change each year. Annual caps and lifetime caps are placed on the loan.

7 Year ARM
Your interest rate and monthly principal and interest payment are fixed for the first seven years of the loan. Beginning in year eight, your loan converts to a 1 Year ARM. This means from year eight to year 30, your interest rate and payment amount could change each year. Annual caps and lifetime caps are placed on the loan.

5 Year ARM
Your interest rate and monthly principal and interest payment are fixed for the first five years of the loan. Beginning in year six, your loan converts to a 1 Year ARM. This means from year six to year 30, your interest rate and payment amount could change each year. Annual caps and lifetime caps are placed on the loan.

3 Year ARM
Your interest rate and monthly principal and interest payment are fixed for the first three years of the loan. Beginning in year four, your loan converts to a 1 Year ARM. This means from year four to year 30, your interest rate and payment amount could change each year. Annual caps and lifetime caps are placed on the loan.

1 Year ARM
Your interest rate and monthly principal and interest payment could change each year for the entire life of the loan. Annual caps and lifetime caps are placed on the loan.

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