FHA Adjustable Rate Mortgages For Only 3.625%

As of today, you can obtain an amazing 3.625% interest rate on a 5/1 adjustable rate mortgage through FHA.  Until recently, I had thought that 30 year fixed rate mortgages were the only product offered through FHA, but Oguz Sengul  pointed out that FHA also offers a 5/1 ARM.

A "5/1 ARM" is a mortgage that has a fixed rate (3.625%) for five years, and then can adjust once every year.

If you anticipate only being in your home for 3, 4, 5 or 6 years, this can be a fantastic loan program to consider!