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Adjustable Rate Mortgages

An adjustable rate mortgage, also known as a variable rate or tracker mortgage, is a mortgage with an adjustable interest rate.

Many times this will allow a buyer to start out with a lower monthly payment. However, after an initial fixed period of 3-10 years that rate can be adjusted yearly based on the performance of an index, though rate caps will prevent the interest rate from going up or down past a certain point.

An adjustable rate loan may be right for you if you need a lower monthly payment to start and don’t mind the unpredictability of a fluctuating interest rate. There is a definite potential for savings with a fixed rate loan.

3/1 ARM
2.750%

3/1 ARM

Loan Details
Loan Purpose
Purchase
Loan Product
3/1 ARM
Interest Rate
2.750%
APR
3.782%
Payment (Principal & Interest)
$816.48
Loan Amount
$250,000
Down Payment
$50,000
Credit Score
740

Please be advised that your actual rate, payment, and cost could be higher. Get an official Loan Estimate before choosing a loan. This estimate is provided for informational purposes ONLY, to assist you in determining an estimate of cash that may be required to close and an estimate of your proposed monthly mortgage payment. Actual charges may be more or less, and your transaction may not involve a fee for every item listed.

Rate and APR based on the following assumptions: Purchase Price of $250,000, loan amount of $200,000, 80% loan to value, 740 credit score, single family property, primary residence, escrowing taxes and insurance, debt ratio within program guidelines.

5/1 ARM
3.000%

5/1 ARM

Loan Details
Loan Purpose
Purchase
Loan Product
5/1 ARM
Interest Rate
3.000%
APR
3.712%
Payment (Principal & Interest)
$843.21
Loan Amount
$250,000
Down Payment
$50,000
Credit Score
740

Please be advised that your actual rate, payment, and cost could be higher. Get an official Loan Estimate before choosing a loan. This estimate is provided for informational purposes ONLY, to assist you in determining an estimate of cash that may be required to close and an estimate of your proposed monthly mortgage payment. Actual charges may be more or less, and your transaction may not involve a fee for every item listed.

Rate and APR based on the following assumptions: Purchase Price of $250,000, loan amount of $200,000, 80% loan to value, 740 credit score, single family property, primary residence, escrowing taxes and insurance, debt ratio within program guidelines.

10/1 ARM
3.375%

10/1 ARM

Loan Details
Loan Purpose
Purchase
Loan Product
10/1 ARM
Interest Rate
3.375%
APR
3.637%
Payment (Principal & Interest)
$884.19
Loan Amount
$250,000
Down Payment
$50,000
Credit Score
740

Please be advised that your actual rate, payment, and cost could be higher. Get an official Loan Estimate before choosing a loan. This estimate is provided for informational purposes ONLY, to assist you in determining an estimate of cash that may be required to close and an estimate of your proposed monthly mortgage payment. Actual charges may be more or less, and your transaction may not involve a fee for every item listed.

Rate and APR based on the following assumptions: Purchase Price of $250,000, loan amount of $200,000, 80% loan to value, 740 credit score, single family property, primary residence, escrowing taxes and insurance, debt ratio within program guidelines.

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(603) 926-9695
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Blue Water’s team has over 100 years of collective mortgage experience we have the knowledge and ability to get your loan closed on time with the best terms and lowest rates for you.

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Please be advised that your actual rate, payment, and cost could be higher. Get an official Loan Estimate before choosing a loan. This estimate is provided for informational purposes ONLY, to assist you in determining an estimate of cash that may be required to close and an estimate of your proposed monthly mortgage payment. Actual charges may be more or less, and your transaction may not involve a fee for every item listed.

Rate and APR based on the following assumptions: Purchase Price of $250,000, loan amount of $200,000, 80% loan to value, 740 credit score, single family property, primary residence, escrowing taxes and insurance, debt ratio within program guidelines.