5 Year FHA ARM Programs

FHA loans have become increasingly more popular with first time home buyers who are seeking to put less money into their downpayments. If you see youself in a similar situation and only plan on being in your starter home for 3-7 years, you may want to speak with an American Bank mortgage professional about the pros and cons of a 5/1 FHA ARM loan. With these products, borrowers pay on low introductory interest rates which lasts for the first 60 months of the mortgages. After the first five years pass, the loans then begin to adjust up or down based up the loans' margins, caps, and the indexed which they are tied to. Because of the fact that the loans will adjust, 5 year FHA mortgages do carry more risk than their fixed rate counterparts. Still, for the right indivual, a 5 year ARM might be the perfect choice.

Call American Bank today to discuss whether an adjustable rate mortgage makes sense for you - 877-215-2290. You can also request current mortgage rates using the rate quote form on this web page.

MORE FHA PROGRAMS

American Bank offers a wide range or home financing products for most types of residential homes. Whether you are looking for a condo loan, investment property financing, or even jumbo loans for higher end real estate, American Bank can likely help. The bank has a number or other fha loan programs besides 5 year FHA loans including 30 year FHA loans and 15 year FHA mortgages. From first time home buyers to real estate investors, professional financing assistance is always a phone call away with American Bank.

ADDITIONAL SERVICES

American Bank is more than simply a mortgage bank. In addition they offer they offer the following services:

Personal Banking (Including Checking & Savings Accounts, Money Market Accounts, Retirement Savings)
Commercial Banking (Including Checking & Money Market Accounts, CDs, and Commercial Lending)

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