Licensed in NH, ME, MA, & CT


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.

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  • Type
  • Rate
  • Points
  • APR
  • 5/1 ARM
  • 3.0%
  • 1.247
  • 3.067%
  • 7/1 ARM
  • 3.125%
  • 1.126
  • 3.193%
  • 10/1 ARM
  • 3.375%
  • 1.08
  • 3.444%
Based on a mortgage amount of $200,000 with 25% down, over 740 middle credit score, SFR, O/O, 30 day lock, debt to income ratio within program guidelines. Interest rates are subject to change without notice. Many other programs and rates are available.

"The loan experience could not have been any better. As a first-time Home Buyer, I had questions and Blue Water Mortgage was willing and able to answer them all. I would recommend Blue Water to anyone looking for a home mortgage."

Jane S. Bedford, NH

"I would recommend the organization with a 10 out of 10. They worked through a ton of grey area to get through a few last minute road blocks. I really felt like they were putting in the extra effort for me. I would absolutely recommend Blue Water to any first time home buyer."

Dan V. Kittery, ME

"My experience with Blue Water Mortgage was fantastic. The representatives were very professional and treated me as though I was their most important customer. I was a first time home buyer and Blue Water Mortgage took the stress out of a normally stressful process."

Chris D. Longmeadow, MA

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