New 15/1 Adjustable Rate Mortgage
Contact us today to learn more about our NEW 15/1 Adjustable-Rate Mortgage!
Buying a house is pricey, especially in Boston-area communities. One way to make things a little more manageable is with the Dedham Savings NEW 15/1 Adjustable-Rate Mortgage (ARM).
As a buyer, you want a monthly payment that leaves enough room in your budget for your other expenses and your savings goals. And you want to minimize your long-term cost so that you’re not unnecessarily spending money on interest that could be going toward other priorities.
With the Dedham Savings NEW 15/1 ARM, you’ll get a lower initial interest rate for a full 15 years! After that, the loan resets, meaning there is a new interest rate based on current market rates. This is then the rate until the next reset the following year.
Advantages of a 15/1 ARM
- Enjoy lower initial interest rates with lower payments than comparable fixed-rate Mortgages
- Get a fixed rate for the first 15 years, then a 1-year adjustable interest rate
- Interest rate caps set a limit on how high your rate can go
- The low initial payment may enable you to qualify for a larger loan
- Refinancing options are available
Contact us today to learn more about our NEW 15/1 Adjustable-Rate Mortgage!
Loans subject to credit approval. Dedham Savings NMLS# 473990.
Member FDIC. Member DIF. Equal Housing Lender.