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What is the 2/28 ARM and will it really help me clean up my credit?

April 26, 2017arm clean credit help

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What is the 2/28 ARM and will it really help me clean up my credit?

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A. The 2/28 ARM means your payment is FIXED for 2 years, usually with a 2 year pre-payment penalty and begins to adjust at the end of the 2nd year of the mortgage. Credit rebuilding is the responsibility of the borrower listed on the application. Your loan officer can only recommend preferred courses of action so you can personally work on your credit during the two year period. For a free consultation, contact a Money Source Loans loan officer today.