ARM Features and Benefits
An Adjustable-Rate Mortgage (ARM) is ideal if you initially want lower monthly payments. After the initial loan period, your rates can adjust based on several factors. An ARM is best suited for borrowers who plan to own their home for a short period of time or have a significantly larger income in the future.
Even if you already have an ARM, there may be an opportunity to refinance your loan for a better rate.
Available in 5/6, 7/6 and 10/6 terms
Lower monthly payments
Low closing costs
Online tax statements
Mortgage Calculators
Crunch the numbers and find out which of our home financing options is best for you.
- Am I better off renting?
- Debt-to-income ratio
- How much can I afford?
- How much will I make by selling my current home?
- How much will my adjustable-rate mortgage payments be?
- Should I make biweekly or monthly payments?
- Should I refinance my mortgage?
- What will my mortgage payments be?
- Which mortgage loan is better?
Tools & Resources
Application Checklist
Our goal is to make the mortgage process as easy as possible, so we created an application checklist to provide you all of the information you’ll need throughout the entire process. Review the checklist to see everything you need to start the road to a new home.
Home Insurance
Discover discounts you may have missed, and save even more if you bundle your home insurance with another policy.
Frequently Asked Questions about Mortgages
No. Advancial Mortgage provides mortgages in all 50 states.
Closing costs can be rolled into refinanced mortgages only, provided you have the equity in the value of the property.
Applying for a mortgage before you find a home may be the best thing you could do! When you apply for your mortgage before you have a property to purchase, we will issue a pre-approval letter to assure real estate brokers and sellers that you are a qualified buyer. When you find the perfect home, call your Advancial Mortgage Loan Officer to complete your application. You’ll have the opportunity to lock in your rate and we’ll complete the loan processing.
Anyone can apply for a mortgage with Advancial. Should you decide to finance your mortgage with us, your loan officer will help you complete the documents to become an Advancial member in order to complete the loan process.
No, you should contact Advancial to lock in your rate once a property has been identified.
If you make a down payment less than 20% of the purchase price, you are required to have mortgage insurance. Advancial works with several companies that can provide assistance in obtaining mortgage insurance.
Advancial extends a mortgage based on the appraised value of the home or the purchase price, whichever is less.
Our goal is to have your loan ready for closing as soon as possible. Generally, we can close your loan within 30 – 45 days. However, if there are delays in submitting the required documentation, or there is a problem with your title work or appraisal, the process may take longer.
Closing costs may include fees for an appraisal, title insurance, a property survey and points. Closing costs vary depending on the loan product and the fees that are customary in your area. You will receive a good faith estimate of your closing costs in advance of your closing date.
Points are a one-time fee that the borrower pays to lower the interest rate. One point equals one percent of your loan amount.
When applying for a mortgage, you’ll need information regarding your employment, income, assets, debts and the prospective property you intend to purchase. Other information may be needed depending on your situation. For more information, please refer to our Application Checklist.
Advancial requires an appraisal on most transactions. If the appraiser recommends repairs or if repairs are mentioned in the contract, Advancial requires that those repairs be done before closing. The appraiser will then perform a final inspection to assure that the repairs were completed.
Mortgage insurance, also known as PMI, is insurance that protects the lender from losses when a mortgage with a low down payment defaults. A low down payment is usually defined as less than 20% of the purchase price or appraised value, whichever is less.
The interest rate is the cost to borrow the money disbursed in the loan. The Annual Percentage Rate (APR) is the total cost of the loan over its life, including costs, fees and points.
We accept down payments as low as 3%. Higher down payments may be required based on your specific situation.
There are mortgage programs available for virtually every situation. It is best to call an Advancial Mortgage Loan Officer for more information.
An Advancial Mortgage Loan Officer will provide you with your rate lock options once you have submitted your application. Typically, rate locks last for a period of 60 days.
Unlike many lenders, Advancial does not charge an application fee.
To obtain a copy of your credit report, visit www.annualcreditreport.com or call 1.877.322.8228. The law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months. Reviewing your credit report prior to applying for a mortgage will give you the opportunity to identify and resolve any credit issues or discrepancies.
As soon as we receive your appraisal, we will update your loan with the estimated value of the home. As a standard practice, we provide a copy of your appraisal at closing.
Different guidelines are established for non-citizens. Each loan type varies, and the documentation you can provide will determine which loan type will fit your scenario. It's best to contact an Advancial Mortgage Loan Officer to discuss your options.
ARM= Adjustable Rate Mortgage. ARM rate adjustments are determined by an index and margin, the index of which is variable and therefore unknown for future payments.
Your actual rate and/or points may be different, as many factors go into providing you with a mortgage loan. Rates and points vary widely for loan amounts above $806,500** (see below), and/or for investment property loans.
**Loans over a certain amount are called jumbo loans. In most states, mortgage loans on a single-family residence greater than $806,500 are jumbo loans. In certain high-cost areas, including Alaska and Hawaii, a single-family mortgage loan over $1,209,750 is considered a jumbo loan.
**Loans over a certain amount are called jumbo loans. In most states, mortgage loans on a single-family residence greater than $806,500 are jumbo loans. In certain high-cost areas, including Alaska and Hawaii, a single-family mortgage loan over $1,209,750 is considered a jumbo loan.
Taxes and insurance not included, therefore the actual payment obligation will be greater. Your actual rate may be higher depending on your actual credit history, loan purpose, loan amount, down payment, and collateral type.
All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Other restrictions and limitations apply.
To contact Advancial Mortgage, email loans@advancialmortgage.com or call 1.888.876.2328.
