Adjustable-Rate

What is a Adjustable-Rate Mortgage (ARM)?

An Adjustable-Rate Mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. With an adjustable-rate mortgage, the initial interest rate is fixed for a period of time. After this initial period of time, the interest rate resets periodically, at yearly or even monthly intervals. ARMs are also called variable-rate mortgages or floating mortgages. The interest rate for ARMs is reset based on a benchmark or index, plus an additional spread called an ARM margin. Typically an ARM is expressed as two numbers. In most cases, the first number indicates the length of time the fixed-rate is applied to the loan.

An Adjustable-Rate Mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.

With Adjustable-Rate Mortgage caps, there are limits set on how much the interest rates and/or payments can rise per year or over the lifetime of the loan.

An ARM can be a smart financial choice for home buyers that are planning to pay off the loan in full within a specific amount of time or those who will not be financially hurt when the rate adjusts.

Testimonials

Rodney was great during the process of purchasing our first home. He was always available by phone whenever we had questions. He always kept us informed about the status and the next steps.

Nicole T.

Rodney help me and reduce payment
He did help me for reduce payment. He create very good way for low rate that include my current mortgage. I could not get such good way if I choose other one. Also he study best rate from many bank.

mmatsuda4 from Lexington, SC

Rodney made my home financing a breeze
He was knowledgeable, experienced,and worked hard to find the best rate for me. Rodney walked me through the whole loan mortgage process and showed me how I can afford a home with the Budget I have.

zuser20151020163519845 from Orangeburg, SC

Orangeburg SPCA225 Ruff Road, Orangeburg, SC

He was wonderful!
This is a follow-up review on the one just sent. I entered the wrong closing date. Rodney was efficient, professional and a pleasure to work with on my re-financing. He had done several closings for me during his time with SCBT in Orangeburg, SC, was always prompt and explained the process in simple terms that I could understood of what is a complicated process. There was nothing to make better during the re-financing from my dealings with Rodney!

dukesr96 from Santee, SC

We were very concerned as the listing agents when we heard a mortgage company that we had never heard of was doing the loan for our listing. However, we certainly had that concern obliterated with the quick communication from the staff. Thanks so much for your hard work and professionalism on this loan!!

Coldwell Banker United Team

A trustworthy professional

Rodney has guided us through complicated property transactions with amazing knowledge and trustworthy professionalism. Our financial situation has greatly improved from following Rodney’s guidance through several personal property transactions over the years. He has developed a strong team who support his office with quick, accurate, professional response and we would undoubtedly recommend him to our family and friends.

russellranch1 from Swansea, SC

terrysuber323 from Sumter, SC

The entire process went smoothly. I thoroughly enjoyed working with Rodney. He kept us informed throughout the entire process. And we were able to close in three weeks. The entire process was much more easier than other companies. I would highly recommend Rodney to family and friends.

Excellent Service

TREATED FROM START TO FINISH AS A PERSON AND NOT AS AN ACCOUNT NUMBER

I first became aware of Rodney from my older brother who purchased his residence after contacting Rodney. When it was time for me to use the equity in my property, my brother and friends strongly suggested that I only contact Rodney. Rodney explained my options and worked to keep the headaches out of the process. Rodney is there for the customer the entire process. The closing was simple. I have since returned to Rodney wi…

crack310 from Saint Matthews, SC

A wonderful experience!
Rodney is absolutely wonderful to work with! The process was seamless, virtually stress free, and, with his help and guidance, we were able to close within 30 days, a full week earlier than the contract closing date. Communication was clear, prompt, and easy to understand and our interest rate and fees were much lower than anywhere else. We couldn’t recommend Rodney and Kwest Mortgage Group enough!

caitlinofort from Mount Pleasant, SC