MCLEAN, Va.--(BUSINESS WIRE)--First Savings Mortgage Corporation has introduced a new 6/1 Adjustable Rate Mortgage (ARM) into the mortgage market. First Savings Mortgage has always focused on innovative products that are beneficial to our consumers in the Washington DC metropolitan area. The two main advantages of the 6/1 ARM over shorter term ARMs are – longer payment certainty, and the ability to qualify borrowers at the start rate, which opens homeownership to more people.
“Adjustable rate mortgages could be the best option for some of our clients,” states Larry F. Pratt, Chairman and CEO of First Savings Mortgage. “The Washington DC metro area is a very transient area and many are finding the significant lower rate in an ARM more favorable than a 30 year fixed rate loan.”
About First Savings Mortgage Corporation:
First Savings Mortgage is a locally owned privately held mortgage company servicing the metropolitan Washington, DC area since 1989 and is licensed in Virginia, Maryland, Washington D.C., Florida, Delaware and North Carolina. First Savings Mortgage employs 48 loan originators within their three offices located in Virginia, Maryland and Washington D.C. and has closed over $39 billion in mortgages locally since its inception.
First Savings Mortgage offers local underwriting, processing, closing, and all of our appraisals are performed by locally licensed real estate appraisers. First Savings Mortgage offers a full suite of loan products including Conventional, Jumbo, FHA, VA, Renovation and one-time close Construction Financing, Second Liens, Bridge Financing and is a participating lender for the DC Open Doors program, a program that makes home ownership more attainable for qualified buyers in Washington D.C.
Learn more about First Savings Mortgage www.firstsavingsmortgage.com