Review current adjustable rate mortgage rates for October 21, 2020. The table below enables you to compare adjustable rate mortgage rates for leading lenders near you. The table shows five, seven and ten year ARM mortgage rates and closing costs. These are also called 5/1, 7/1 and 10/1 ARMs because your mortgage rate and monthly payment are fixed for the first five, seven and ten years and then subject to adjust annually for the remainder of the loan. The starting rate and monthly payment for an ARM are usually lower than the for a fixed rate loan but the rate and payment for an ARM can potentially increase so there is more risk for borrowers.
Use the table below to compare the mortgage rate, APR, closing fees and monthly payment for different ARM programs and lenders. You can refine your search to review updated ARM mortgage rates based on your specific inputs for loan amount and other factors. You can also adjust the Loan Type and Term selection to compare adjustable rate and fixed rate mortgages side-by-side. We recommend that you contact at least five lenders to find the best loan terms and determine if an ARM is the right home loan financing option for you.