Adjustable Rate Mortgages

A Citizens Bank adjustable rate mortgage (ARM) provides savings and flexibility. Lower rates at the beginning of the term gives you more cash on hand when you need it. With a typically lower mortgage payment, ARMs are an increasingly popular alternative to the conventional fixed rate mortgage for homeowners trying to get the most home for the lowest payment. The downside of the lower payment is a potential increase in the monthly payment over time, if interest rates rise. Therefore, ARMs are most appropriate for people who anticipate an increase in their income during the life of their loan, or who plan on moving in five to seven years.

Features:

• Lower initial rates.
• A variety of rate adjustment schedules to suit your needs.
• Affordable home financing

Benefits:

• Lower initial monthly payments.
• 1, 3, and 5 year initial fixed rate period before adjusting.
• A fully-amortizing product.

All loans subject to credit approval.

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