Best 5/1 ARM Rates in Philadelphia as of April 21, 2011

For anyone who wants to enjoy a low mortgage rate in Philadelphia, but does not want to commit to a long-term fixed mortgage loan, an adjustable rate mortgage may be the answer. ARMs offer a low, introductory fixed rate period and then adjusts to a new interest rate when that time period is over. They also tend to offer lower rates than fixed mortgages for that intro period and have a shorter total term length, which allows you to potentially pay less interest over the life of your loan.

If you’re interested in an adjustable rate mortgage, find out which Philadelphia lenders have the best ARM rates to offer. Below is a list of the lowest 5/1 ARM interest rates in the city currently:

Lowest Philadelphia, PA 5/1 ARM Interest Rates

Mortgage Management LLC: 2.882% APR
AimLoan.com: 3.065% APR
EverBank: 3.073% APR
Mortgage Capital Associates: 3.081% APR
Pleasant Valley Home Mortgage: 3.126% APR

These rates are accurate as of 4/21/11 based on a loan amount of $300,000. Please note, however, that rates are subject to change at any time in the future at the discretion of the lender.