Saturday School: What Is a Hybrid ARM Mortgage?

Can't decide between fixed-rate and adjustable-rate mortgages? As this video explains, you can have both.

Saturday School: What Is a Hybrid ARM Mortgage? Photo by Idutko / Shutterstock.com

Most homebuyers who take out a mortgage assume they have two options: a fixed-rate mortgage or an adjustable-rate mortgage.

But there is a lesser-known alternative: the hybrid ARM mortgage.

A hybrid ARM is a blending of an adjustable-rate mortgage and a fixed mortgage. This type of loan can make sense for some borrowers, saving them money over the life of the loan. But a hybrid ARM is not without risks.

to learn about the pros and cons of a hybrid ARM mortgage, and whether or not it’s the best choice for you.

Which type of mortgage did you choose? Let us know by commenting below or on .

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