Standard Mortgage Blog

Adjustable Rate Mortgages (ARMs) are home loans with interest rates that can change over time. They typically have a fixed rate for an initial period which is lower than the current market rate for a fixed loan. Most ARMs offer this introductory low rate for a period of 5, 7, or 10 years and then adjust periodically based on market conditions. The lowest starting rates are found on loans that..

Fixed-rate mortgages are often chosen for their stability and predictability, offering homeowners the peace of mind that their interest rate will remain constant throughout the life of the loan. However, even with a fixed-rate mortgage, your monthly payment amount isn't always set in stone. Various factors can lead to fluctuations in your payment amount over the life of your loan.

Getting homeowner's insurance and keeping your lender informed of any changes to your coverage are essential measures in protecting your home. Timing is crucial to ensure you have enough coverage and that your lender is updated at every stage.