Lower initial rates to help you maximize your budget today.
Short-Term Savings & Flexibility
At Contemporary Mortgage Services, we offer adjustable-rate mortgages (ARMs) to provide you with financial flexibility. ARMs start with a lower initial interest rate compared to fixed-rate mortgages, which results in lower monthly payments during the initial period.
This is often an excellent choice for buyers who plan to move, sell, or refinance before the initial fixed-rate period ends, allowing you to benefit from lower costs without a 30-year commitment to a higher fixed rate.
Benefits of an ARM
Lower Initial Payments
Start with a lower monthly payment than standard fixed-rate loans, freeing up monthly cash flow.
Potential Savings
If interest rates stay stable or drop, you could pay significantly less over the initial years of the loan.
Plan-Friendly
Perfect for homeowners who know they will be relocating or upgrading within 5 to 10 years.
Variety of Terms
Choose from 5/1, 7/1, or 10/1 structures to match your specific timeline.
Calculate Your ARM Payments
Curious how your payments might change over time? Use our specialized tool.
Common ARM Structures
5/1 ARM
Fixed for the first 5 years, then adjusts annually. Best for short-term residency.
7/1 ARM
Fixed for the first 7 years. A popular balance of savings and stability.
10/1 ARM
Fixed for a full decade. Provides long-term peace of mind before any adjustments occur.
How to Get Started
Consultation — We'll compare ARM vs. Fixed-rate options to see which matches your 5-10 year plan.
Prequalification — Discover your buying power based on the lower initial ARM rates.
Application — Our team guides you through the documentation process quickly and efficiently.
Approval — We'll process your file and lock in your initial "teaser" period rate.
Closing — Finalize your loan and start enjoying your lower monthly payments!