Which mortgage is right for you?
Fixed or Adjustable Rate?

Know the differences so you can choose what's best for you.

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Lower initial interest rates offer a more manageable payment

Adjustable-rate mortgages, or ARMs, can save you money in the short term, giving you a few years to solidify your finances. First American Bank ARMs come with lower, stable interest rates for up to five years. After that time, the rate can change annually according to market conditions, in which case your monthly payments could change.
  • Competitive interest rates
  • Low closing costs
  • Loan terms limit annual and long-term interest rate increases
  • Interest charges may be deductible (Consult your tax advisor)
  • Schedule automatic payments with Online and Mobile Banking
  • Refinancing options available
  • Call a First American branch, and a loan officer will explain the details of an ARM loan
Disclosures

Subject to credit approval. Standard rates apply. For additional product terms and conditions, please click here.