Q: How can an adjustable-rate mortgage (ARM) help me customize my payment terms?
A: With an ARM, you have the flexibility to tailor your mortgage payments to your current financial situation. During periods of low interest rates, your monthly payments will be lower, freeing up cash flow for other expenses or investments. Conversely, if interest rates rise, your payments will increase, but potentially at a more manageable pace compared to a traditional fixed-rate mortgage. This flexibility can provide peace of mind and help you avoid financial strain if your income or expenses fluctuate in the future.
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