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Should I be worried that my payment on an ARM mortgage will go up dramatically after a certain time?


Should I be worried that my payment on an ARM mortgage will go up dramatically after a certain time?

With an adjustable-rate mortgage (ARM), monthly payments can change after a specific amount of time, according to your loan structure. However, Greater Alliance ARMs have a cap to prevent a drastic payment increase. Talk with a Greater Alliance home loan specialist to make sure you understand how your payment can change over time.