– 5/1 ARM. 5/1 Adjustable Rate Mortgage. 5/1 ARM – the rate is fixed for a period of 5 years after which in the 6th year the loan becomes an adjustable rate mortgage (ARM).
Fixed Rate Mortgage vs. Adjustable Rate Mortgage (ARM) – For example, a common adjustable-rate mortgage is a 5/1 ARM with a. With this loan, the maximum increase in any year (after the first five) is.
Adjustable-Rate Mortgage Loans (ARMs) from Bank of America – With an adjustable rate mortgage (ARM), your interest rate may change periodically. Compare adjustable-rate mortgage options and rates, including 5/1, 7/1 and 10/1 ARMs available from Bank of America.