The benefit of an ARM is that ARMs carry an initial interest rate that is lower than the interest rate on a fixed-rate mortgage of similar maturity.

Name: The benefit of an ARM is that ARMs carry an initial interest rate that is lower than the interest rate on a fixed-rate mortgage of similar maturity.
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This is true of an ARM and it often makes the difference between being able to qualify for a desired loan and not being able to qualify for it.

The Benefit of an ARM Is That ARMs Carry an Initial