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Adjustable Rate Mortgages

Our Adjustable Rate Mortgage (ARM) offers an initial (often lower) fixed interest rate for a set period of time. Following this initial period, the interest rate can adjust up or down at set intervals based on the loan’s rate index and margin.

Highlights of our Adjustable Rate Mortgages

Lower Initial Interest Rate

To manage your mortgage at the start, most ARMs have a lower initial interest rate for the first fixed period.

Low Monthly Payment

Helps your budget as your monthly payments are often more affordable at the start.

For Different Property Types

ARMs are available for primary or secondary residence, and on single or multi-family properties, condominiums or cooperatives.

Pay Down Your Principal

Lower initial payments could help you pay down your principal mortgage balance and help save on future interest charges.

Family Room

Adjustable Rate Term Option

Fay Mortgage has a 5/6 ARM option.

How does this loan option work? 



The first number (for example, the “5” in the 5/6 ARM) is the initial fixed period of the loan. Our ARM products currently have an option of 5 years for that first phase. The second number (the “6”) is the length of time in months on which the interest rate may adjust following that first phase.

Apply Today

With Fay Mortgage, the process is fast. Easy. And Secure.