Fixed Period
The fixed period is the initial span of an adjustable-rate mortgage during which the rate stays constant before adjustments begin.
What Fixed Period means
On a 7/6 ARM, the fixed period is seven years. A longer fixed period gives more stability but usually a slightly higher starting rate than a shorter one.
Florida example
A Florida buyer planning to move within a decade picks a 10/6 ARM for its ten-year fixed period, capturing a lower-than-fixed rate while avoiding adjustment risk during their expected stay.
What it is
The fixed period is the stretch at the start of an adjustable-rate mortgage when the rate does not change. A 5/1 ARM has a five-year fixed period.
After it ends, the rate can adjust.
Why it matters
A longer fixed period gives you more years of a steady payment before any change. It is key when comparing ARMs.
We match the fixed period to how long you will stay. Apply now and we will find the right ARM.
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Verify the details for your own situation against these government and agency sources: CFPB adjustable-rate mortgage guide and CFPB Owning a Home guide.