A 5/1 ARM is a mortgage that locks in your rate for the first 5 years, then changes it once per year
7:07am PST - January 15th, 2021 this land is your land - Business InsiderTable of Contents: Masthead StickySummary List PlacementWhat is a 5/1 ARM? When you buy a home, you choose between two basic types of mortgages: a fixed-rate mortgage or an adjustable-rate mortgage. A fixed-rate mortgage locks in your interest rate for the en…