Adjustable Rate Mortgages
A Garrett Mortgage adjustable rate mortgage is perfect for purchasers with short-term mortgage goals. With low closing costs and no PMI requirement, our adjustable rate mortgage will finance up to 95% of the value of your home.
5/5 Adjustable Rate Mortgage
With a 5/5 Adjustable Rate Mortgage (ARM), your initial rate is fixed for five years and is subject to increase or decrease every five years thereafter. One rate change in the next 10 years guarantees a stable, reliable way to pay off your home loan.
10/5 Adjustable Rate Mortgage
With a 10/5 Adjustable Rate Mortgage (ARM), your initial rate is fixed for ten years and is subject to increase or decrease every five years thereafter. One rate change in the next 15 years guarantees a stable, reliable way to pay off your home loan.
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Adjustable Mortgage Rates
As Low As
As Low As
*APR=Annual Percentage Rate. 30-Year Fixed 2.875% (2.945% APR) - up to 60% LTV. The interest rate is current as of July 24, 2020. Offer applies to borrowers with a credit score of 740 or better depending on credit qualifications. The payment on a $200,000, 30-year Fixed-Rate Loan at 2.875% (2.945% APR) is $829.78. Property insurance and, if applicable, flood insurance is required. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some restrictions may apply. This rate is applicable for owner-occupied purchase or refinance (no cash out) of a single family dwelling.