Related Products
Adjustable Rate Mortgages
This product is a popular type of mortgage for individuals who anticipate rising incomes and intend to live in their house for a shorter period of time.
SBD Fixed Rate Home Equity Line of Credit
- The Adjustable Rate Mortgage (ARM) came about during a time of high interest rates that kept many people out of the housing market.
- The ARM offers lower initial interest rates by sharing the future risk of higher rates between a borrower and a lender.
- Interest rates and payments adjust periodically over the life of the loan.
- ARM rates are usually lower than for a Fixed Rate Mortgage.
- Typically, the longer the adjustment period (i.e. one-year ARM, three-year ARM, five-year ARM, seven-year ARM or ten-year ARM), the higher the interest rate.
- ARMs are attractive to some borrowers because they may initially offer a lower interest rate, and since the monthly payments on an ARM start out lower than on a Fixed Rate Mortgage of the same amount, the borrower may qualify for a larger loan.
- Annual and lifetime caps are available to limit the movement of interest rates as rates rise or fall. A lifetime cap is the maximum interest rate over the life of the loan.
Click here to view our highly competitive RATES and additional information.
Click here to APPLY NOW.
Savings Bank of Danbury offers financing on properties located within its lending area.
For more information, call us at (203) 743-3849, email us via web site or stop by any one of our convenient local branches.
Related Info
News & Events Locations Our Community About Us Careers Site Map Home
© 2005 Savings Bank of Danbury
Equal Housing Lender 
Member FDIC Privacy
Statement Contact
Us Patriot
Act
Last Revised:
December 6, 2007
