Fixed or adjustable-rate mortgage? Find out which is right for you. Note, with a
fixed-rate mortgage (FRM), monthly payments will be steady, while with an
adjustable-rate mortgage (ARM), payments will vary over time.
Adjustable-rate mortgages typically have an initial fixed rate lower than that of
acomparable fixed-rate mortgage. The initial fixed-rate period is followed byadjustment intervals.
How long do you expect to stay in your next home?
Consider possible relocation for a job and lifestyle changes, such as a growing
family, downsizing of home, etc..