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3 Year Fixed Rate Mortgage (3/1 ARM)
Nationwide Mortgage Loans offers many fixed rate loan programs. The 3/1 ARM that provides an introductory interest rate that is fixed for the first three years of the loan. After that, the mortgage rate becomes adjustable for the remaining years of the loan . The interest rate will be adjusted & calculated on the origin of the average yield on U.S. Treasury securities adjusted to a constant maturity of one year, plus an additional fixed margin.
It is very common for homeowners to choose this loan option when the 30 year fixed is not as low as they want. The 3/1 provides the borrowers the years to find a lower interest rate before locking into a thirty year loan. |
3/1 Fixed Rate Loans offer Low Payments for three years |
Nationwide offers home equity, second mortgage and refinance loans with a fixed or adjustable interest rate.
With the 3 year fixed rate, you can benefit from a lower rate than the traditional 30 year fixed rate for the 1st 3 years of the loan. Top loan experts believe that it is important for borrowers to be confident when taking a loan on against your home. 3 years of fixed payments is a responsible mortgage, because you are making payments towards paying down the principal, and interest. Finance Tips and Loan Advice
Benefits:
Lower monthly payment for 3 years can save you thousands of dollars. During the adjustable period, the interest rates can be lowered if the market trend improves.
Lower payments increase purchase power
Concerns:
Mortgage Rates could be higher when the adjustable period kicks in
Monthly payments can increase significantly
- Refinance for Lower Rate
- Additional Tax Deductions
- Low Rate Second Mortgages
- Debt Consolidation of High Rate Credit
- Home Improvement Loans
Example:
$365,000 3 Year Fixed at 5.5%
Monthly Payment = $1,910.61
Don't wait any longer, Call 1-877-212-9478 to speak with a seasoned loan professional live. We offer a helpful consultation that includes a free loan quotes with no obligation. |
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ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or home equity line of credit? |
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