Initial Fixed Rate:

Tailor the initial rate to align with your investment strategy. The PHL ARM seamlessly blends the characteristics of fixed and adjustable rate loans. It commences with a stable interest rate for a predetermined period, transitioning into an ARM afterward. Subsequently, the rate adjusts annually for the remaining loan duration.

Available Initial Fixed Rate Periods:

• 3/1 ARM
• 5/1 ARM
• 7/1 ARM
• 10/1 ARM

The initial fixed rate for a PHL ARM can be as much as 2% lower than the rate for a 30-year fixed-rate mortgage!

Adjustment Periods:

ARMS are often denoted as 3/1, 5/1, etc. The first number signifies the duration of the fixed term, typically 1, 3, 5, 7, or 10 years. The second indicates the adjustment interval after the fixed term concludes. For instance, with a 7/1 ARM, you enjoy a fixed interest rate for seven years. Post this period, the interest rate adjusts annually based on market conditions.

Consider an ARM if you:

• Plan to reside in your home for less than ten years.
• Seek the lowest possible interest rate and are open to a degree of risk.
• Desire the reassurance of a consistent monthly payment for three or more years, with an interest rate only slightly higher than an annually adjusted ARM.
• Plan to sell your home or refinance shortly after the fixed term concludes.

Important Note:

The information and self-help tools provided are for independent use and do not constitute investment advice. We do not guarantee loan eligibility or accuracy concerning individual circumstances. All examples are hypothetical and for illustrative purposes. We recommend consulting one of our experienced loan officers for a comprehensive loan eligibility analysis, along with a personalized rate and payment estimate.