7 Year Jumbo ARMs from eLEND
If you’re looking for a home financing option that covers your high-value property as well as allows you to save money during the early years of homeownership, our 7 Year Jumbo ARM might be just what you need. Learn more about this home loan product and request your Free Rate Quote today.
- Low introductory rates that remain in effect for the first seven years of the loan
- Can help home buyers save money on interest during the early years of homeownership
Please note that a 7 year Jumbo ARM may not be the best option for everyone. However, it could be a good fit for home buyers who are planning to sell the home within the first 7 years and want to keep their monthly payments as low as possible.
The 7 Year ARM starts out with an introductory fixed mortgage rate that remains in place for the first seven years of the loan. Once that time period is up, the rate will begin to adjust up or down, depending on the loan’s margin and the index’s rate which the loan is tied to.
How Do I Qualify For A 7 Year Jumbo ARM?
Qualification requirements for 7 Year Jumbo Loans will be based on several factors including:
- Your credit history and score.
- The amount of income you earn.
- The amount of your other debts.
- How much equity you will have in the property.