Prev Next	Consider and Adjustable Rate: What is an adjustable rate mortgage ? - An adjustable rate mortgage is a mortgage that will have a fixed interest rate over the short run, then an adjustable interest rate over the rest of the mortgage. How will it lower my mortgage payment? - Over the short term and adjustable rate has a lower interest rate over fixed rate mortgages which will give you a lower payment. Just note that your mortgage payment will increase once your fixed rate period(1yr, 3yr, 5yr, or 10yr) is over.
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