Worldwide Capital Mortgage Corp offers different types of programs; one of them is the Adjustable-Rate-Mortgage loan.

 Worldwide Capital Mortgage Corp. "Adjustable Products"

The adjustable products that Worldwide Capital Mortgage Corp. offers are mortgage loans in which the interest rate and payment amount fluctuate during the life of the loan. The interest rate and payment may adjust every six months. Adjustable programs are fixed for a certain period, most commonly, 1, 2 or 3 years.  

It is of utmost importance for Worldwide Capital Mortgage Corp that every program has its own safeguards built into the mortgage. After an initial term, the interest rate on an adjustable-rate mortgage ARM loan is re-set periodically. This is to keep the rate in line with current market interest rates. For example, a 3/1 ARM loan offers a fixed rate for the first three years, adjusting once a year thereafter. A 5/1 ARM loan offers a fixed rate for the first five years, adjusting yearly thereafter. The lender that Worldwide Capital Mortgage Corp. chooses sets the interest rate by adding a margin to an index rate. The Index is the average of interbank-offered rates for six month US dollar denominated deposits in the London market (LIBOR), as published in The Wall Street Journal Six Month LIBOR Rate.

Most ARM loans have a periodic rate cap and lifetime cap to limit the amount the interest rate can increase each adjustment period and over the term of the loan, respectively. 

If you have a payment cap in your loan agreement, you may face negative amortization of your loan. This has the effect of increasing the amount you owe

Benefits of Adjustable Rate Mortgages with Worldwide Capital Mortgage Corp:

AN ADJUSTABLE RATE MORTGAGE WILL HAVE LOWER INTEREST RATES THAN A FIXED PROGRAM. The rate will fluctuate, but when the prime rate is low, your interest rate will decrease also.

Who is this program right for?

At Worldwide Capital Mortgage Corp. we always want the best for our customers therefore we advise you that Adjustable Rate Mortgages (ARM) are designed for specific situations and borrowers. These mortgages are intended to help borrowers obtain lower rates while their current situation is unstable or undetermined. Home owners that intend to sell or move will take advantage of an adjustable mortgage, since they will not need the loan for the full term. For borrowers that have sub-par credit, they can obtain an adjustable rate mortgage and take advantage of the fixed portion of the loan to help their current situation, and then refinance when their credit becomes better after a few years.

If you need more information about how to obtain an Adjustable Rate Mortgage (ARM) just visit our web site at www.worldwidecapitalmortage.com