A 5/1 ARM has a 5 year
initial period until the first interest rate adjustment in the
6th year. A 5/1 ARM is a great options for those people who plan
to sell or refinance their home before the end of the initial 5
year period and are attracted to the stability of a fixed
payment for 5 years. Although statistics show that many do
so on average every 5 to 7 years. An ARM is also a good
mortgage option if fixed mortgage rates are high, as adjustable
rate mortgages can offer lower payments such as the 5/1 ARM.
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