Is A 3 27 ARM A Good Oregon Mortgage Loan For You?

Oh My Goodness, What On Earth Is A 3 27 ARM?

A 3 27 ARM is a 30 year adjustable rate mortgage that has a fixed interest rate for the first 3 years and then is fully adjustable for the remaining 27 years.

This type of loan is very commonly used with people that know they will be moving and selling their home with in the next 3 to 4 years.

Your regular conforming A-paper, FHA, and VA loans all offer a 3 27 ARM.

It is absolutely critical that you know for sure that you are going to be selling in the next 3 to 4 years. As with most adjustable rate mortgages. You don't want to get stuck in one once it has started adjusting.

But if you have definite plans it can be the way to go as the interest rates are typically much less than a 30 year fixed mortgage.

Oregon Residents Apply Here For A 3 27 ARM