Compare Current ARM Rates and Best ARM Lenders Today
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Current ARM rates
| Loan product | Interest rate | APR |
|---|---|---|
| 30-year 5/1 ARM | 6.23% | 6.66% |
| 30-year 5/1 ARM refinance | 6.28% | 6.33% |
Average rates disclaimer
Best ARM lenders of 2026
To determine our top adjustable-rate mortgage lenders, we reviewed data collected from more than 30 lender reviews completed by the LendingTree editorial staff. To appear on our list, lenders had to be licensed to lend in most states, offer multiple ARM loan products and earn a star rating of 3 or higher on LendingTree’s mortgage rating system.
ARM rates vs. other mortgage rates
Read more about whether rates are predicted to rise in our mortgage interest rates forecast.
How to get the best ARM rates
1. Get your finances in shape
Improving your finances before applying for an ARM loan can increase your approval odds and help you qualify for a better rate. Focus on reducing your debt, limiting new credit applications and reviewing your credit report for any errors to dispute.
Don’t know your credit score? Get your free score on LendingTree Spring today.
2. Compare ARM types
The ARM type you choose affects your rate. The most common adjustable-rate mortgages include:
- 3/1 ARM: This ARM type has a fixed rate for three years and a rate that would adjust annually for the remaining loan term.
- 5/1 ARM: This ARM type has a fixed rate for five years and a rate that would adjust annually for the remaining loan term.
- 7/1 ARM: This ARM type has a fixed rate for seven years and a rate that would adjust annually for the remaining loan term.
- 10/1 ARM: This ARM type has a fixed rate for 10 years and a rate that would adjust annually for the remaining loan term.
Shorter-term ARMs, such as 5/1 ARMs, typically have lower introductory rates than longer-term ARMs. The tradeoff is that the fixed interest rate period is shorter.
3. Shop around
Comparing a few different ARM lenders can help you find the most competitive rate and terms, since they can vary widely from one financial institution to another.
ARM loan requirements are similar to the minimum mortgage requirements for fixed-rate loans, but with a few significant differences.
- Credit score: Conventional ARM loans usually require a 640 credit score, though lenders can set a higher minimum if they choose. If you need a more accessible credit requirement, FHA loans and VA loans can offer the chance to qualify with a lower score.
- Down payment: You may be able to put zero down with a VA loan, 3.5% with an FHA loan and 5% with a conventional loan. You may need to come up with an even higher down payment — 10% to 15% — if you’re buying a home you won’t live in full time, like a vacation home or investment property.
- DTI ratio: 41% to 45% maximum. As with fixed-rate loans, you can qualify for a VA loan with no more than a 41% debt-to-income (DTI) ratio. FHA ARM loans offer a little more wiggle room, allowing up to a 43% DTI, and conventional ARMs are the most generous with a 50% DTI ratio maximum.
- Proof you can qualify for a range of payment amounts: Some ARM programs require proof that you can qualify for a range of monthly payment amounts, or even the maximum payment amount allowed over the life of the loan — not just the lower payments you’ll see in the initial period. Check with your loan officer to make sure you know the guidelines.
Pros and cons of ARM loans
Pros
- Lower initial monthly mortgage payments
- Lower initial mortgage rate
- Rate caps limit how much your ARM interest rate can adjust
Cons
- Rate increases after a certain time period (depending on the ARM type)
- Monthly payments can become unmanageable
- You may not be financially ready to refinance before the fixed-rate period ends
Should you get an ARM?
When an ARM could be a good idea:
- You can get a significantly lower mortgage rate
- You plan to refinance your home before the rate adjusts
- You plan on selling your home before the fixed-rate period ends
When an ARM may not be a good idea:
- You prefer stable monthly mortgage payments
- You plan to stay in your home long term
- You believe mortgage rates are increasing
Frequently asked questions
Yes, you can refinance an ARM loan. In fact, it’s a common strategy to refinance an ARM loan before the initial lower rate adjusts.
It depends on your specific situation and goals. If you plan to sell your home or refinance before the rate adjustments begin, an ARM can be a good way to save on monthly payments and interest charges. On the other hand, a fixed-rate mortgage may be the better option if you prefer stable, predictable payments.
ARM rates change at set intervals after the initial fixed-rate period ends. For example, the 5/1 ARM has a fixed rate for five years. After five years, the rate adjusts once a year for the remainder of the loan term.