What is the 30 Year, 5/5 Intermediate ARM Loan?
Zions Bank has attracted much attention by providing exclusive loan programs that provide the security of a fixed rate with the lower rate benefits of an ARM. This loan offers a low fixed rate that adjusts once every 5 years during the 30 year term, according to the Five Year Interest Rate Swap, as made available by the Federal Reserve Board. Interest rate adjustments have a 2.25% margin, an annual 2% adjustment cap and a 10% lifetime adjustment cap from the start rate. A lower rate means a lower payment, which allows you to qualify for a larger home.
