3/1 Adjustable Rate Mortgage
3 Years Fixed Remaining Term Adjusts Annually
Staying in the same
home for 30 years may not be in your plans -- which is one
reason to consider an adjustable-rate mortgage (ARM). An ARM
generally offers a lower initial interest rate than a
fixed-rate mortgage. With lower monthly payments in the
initial years of your mortgage, you may qualify for a larger
mortgage amount if you choose.
Fannie Mae offers a full range of fixed-period adjustable-rate mortgage products to fit your needs. Fixed-period adjustable-rate mortgages have an initial fixed-rate period, after which the rate may adjust either upwards or downwards annually, based on the cap structure and the index chosen.
2006 Conforming Loan Limits
Alaska, Guam, Hawaii,
and U.S. Virgin Islands only
1 $417,000 $625,500 2 $533,850 $800,775 3 $645,300 $967,950 4 $801,950 $1,202,925