An adjustable-rate FHA loan might be a smart choice for your borrowers, as they usually feature a lower initial interest rate than a fixed-rate loan.*

This can be a major benefit, especially if:

  • Your borrower expects to move in the next few years. An ARM may be better, as the interest rate could be lower than a fixed-rate loan.
  • Your borrower needs a higher loan amount. Since an ARM begins with a lower interest rate for the first five to 10 years, your borrower may qualify for a larger loan amount since the initial payments will be lower than for a fixed-rate mortgage.

Key Features and Benefits

  • Minimum loan amount of $25,000
  • Maximum loan amount
    • The base loan amount cannot exceed the lesser of the statutory loan limit for the area or the conforming limit.

Property Types

  • Single-family (detached, attached)
  • Planned unit development (PUD) (detached, attached)
  • 2-4 unit
  • FHA-approved condominium (detached, attached)
  • Modular home

*Guidelines subject to change. Refer to AllRegs® for details.

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