An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).
Edgewater Residential Capital
How is an index and margin used in an ARM?
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01
Conventional
Flexible financing options for qualified homebuyers.
02Jumbo
Financing solutions for homes above conforming loan limits.
03Adjustable Rate
Explore ARM options with an initial fixed-rate period.
04VA Loans
Home financing benefits for eligible veterans and service members.
05FHA Loans
Government-backed financing with flexible qualification guidelines.
06USDA Loans
Eligible buyers may qualify for financing in rural and suburban areas.
07Refinancing
Review your current mortgage and explore whether new terms could better fit your goals.
07Reverse Mortgages in South Carolina
Your financial needs can change over time. Explore your current mortgage and see whether a South Carolina reverse mortgage could offer new options for accessing your home equity and supporting your long-term goals.