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What is an Adjustable Rate Mortgage (ARM)?

If starting out with a lower monthly payment is important to you, then you may wish to consider an Adjustable Rate Mortgage (ARM). An ARM loan typically offers you an attractive interest rate for the first several years of your loan, then it adjusts annually for the remainder of your mortgage term.
Do you have the perfect home in mind but cannot make a 20% down payment? Consider the Santander 80-10-10 Combination Loan, which enables a lower down payment with your adjustable rate (ARM) mortgage.

Adjustable Rate Mortgage (ARM) Features

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Interest payments during the early years of your ARM loan will be generally lower than those of a fixed rate mortgage.

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Your initial interest rate will remain the same for a period of 5, 7 or 10 years, depending on the mortgage you choose, and then adjust annually, based upon current interest rates.

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There's a limit to how high your monthly interest payment may go when your ARM loan rate adjusts, and over the life of the loan. Or you can refinance into a fixed rate mortgage if you prefer to lock in a rate.

First Time Home Buyer?

For first-time homebuyers, we can assist you in the process from getting you pre-approved to selecting the right loan option and getting you into your new home.


  • Avoid rent while creating a home that meets your needs and tastes.
  • Gain tax benefits by deducting mortgage interest and real estate property taxes on your Federal income tax returns. Consult your tax advisor.
  • Help build a strong credit history by making on-time mortgage payments.
  • Flexible income, down payment and credit guidelines.

Loan Calculators

May We Also Suggest?

1 All loans subject to approval.

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