If you’re buying a home and want lower payments than a fixed rate mortgage may provide, consider an adjustable rate mortgage, or ARM, from PNC Mortgage. With an ARM, you’ll start out with a lower interest rate than a fixed rate loan and, after a predetermined number of years, your rate may change (higher or lower) and will continue to adjust annually until you pay off your mortgage.

Key Features and Benefits

  • Lower payments for the first years of a loan
  • Ideal if you’re expecting an increase in income, are willing to accept future interest rate risk, or don’t plan to own the home for a long period
  • Select from 1-,3-,5-,7- or 10-year periods during which the interest rate remains unchanged, followed by 1-year periods in which the interest rate may increase or decrease on an annual basis resulting in a change in your monthly payment amount.