Adjustable Rate Mortgages (ARMs) are a popular way to get the lowest initial payment. Typically a lower interest rate than fixed rate loans, the ARM interest rate changes over time. Due to this, your monthly interest rate could increase or decrease but may be protected with a maximum interest rate or adjustment cap. ARMs are best for people whose income may increase over the loan's life, or who plan on moving within the next few years.
Adjustable Rate Mortgages 
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