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Several adjustable rate mortgages, ARMs, are available to homeowners. They include 1-Month , 6-Month or 1 Year adjustments. Some have initial fixed periods of 2, 3, 5 or 7 years and then adjust for the remainder of the loan term. As a borrower it is important to watch the market and speak with your mortgage broker to decide which type of ARM will best fit your home loan needs.
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