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We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers. We’ve picked at least two lenders in several "best of" categories to help you find a lender that meets your needs.
Now that you’ve made the decision to shop for an adjustable-rate mortgage, it’s time to decide which lenders to consider. NerdWallet has reviewed leading lenders that offer adjustable-rate mortgages and classified them based on individual loan needs.
These lenders are among the best available. Just choose your situation and click-through for even more information.
Best adjustable-rate mortgage lenders for first-time home buyers
As a first-time home buyer, there’s a lot to consider. These lenders can help you navigate your adjustable-rate home loan options.
- The largest VA home purchase lender in the nation
- VA-backed loans usually require no down payment
- VA ARMs cannot increase more than five percentage points over the life of the loan
- Veterans United Home Loans review
- Offers 5/1, 7/1 and 10/1 ARMs
- Conventional loan programs for first-time home buyers with down payments as low as 3%
- Minimum credit score: 620
- SunTrust mortgage review
Best adjustable-rate mortgage lenders for refinancing
If an ARM fits your refinancing needs, these lenders can offer a large range of adjustable-rate mortgage choices.
- Considers alternative credit data such as utility and rent payments for some of its loan products
- Offers a full selection of adjustable-rate home loans
- Existing bank customers may qualify for mortgage fee discounts of $200 to $600
- Bank of America mortgage review
- Provides a variety of mortgage refinance products, as well as home equity loans
- Offers 3/1, 5/1, 7/1 and 10/1 ARMs
- Repeat refinance customers can get discounts and reimbursements for certain closing costs
- loanDepot review
Best adjustable-rate mortgage online lenders
Get an ARM anywhere, anytime. These lenders are technology leaders and can meet your mortgage needs completely online.
- The first national lender to launch mobile mortgage lending
- ARM rates are initially fixed for 5, 7 or 10 years
- Life-of-the-loan rate changes are capped at 5% above your initial fixed rate
- Rocket Mortgage review
- Offers an online application process with secure document uploads and electronic signing
- Offers ARMs on jumbo mortgages, for purchasing larger, more expensive homes
- 170 branches across the country for local service
- Guaranteed Rate review
Best adjustable-rate mortgage lenders for face-to-face service
Does your ARM require a helping hand? These lenders pride themselves on their face-to-face service, though service footprints can vary by region.
- More than 2,200 financial centers, primarily in the Southeast
- Offers 3/1, 5/1, 7/1 and 10/1 adjustable-rate mortgages
- Construction-to-permanent loans also have adjustable-rate options
- BB&T review
- Offers full line of purchase mortgages, including FHA and VA loans.
- Has low down payment options that don’t require private mortgage insurance.
- Available in all 50 states.
- CitiMortgage review
Best adjustable-rate mortgage lenders for borrowers with bad credit
You might be able to buy a home sooner than you think, even after a personal credit crisis. These lenders can guide you through the process.
- Caters to minority and low-income borrowers
- Offers ARMs for purchase, refinance and cash-out refis
- Assists borrowers in finding state-sponsored down payment assistance and grant programs
- New American Funding review
- Provides FHA, VA and USDA loans, which are especially helpful to borrowers with lower credit scores
- Offers adjustable rate mortgages at over 250 local locations
- The Fairway mobile app allows borrowers to complete an application and locate a local loan officer
- Fairway Independent Mortgage review
Best adjustable-rate mortgage lenders: summary
- Veterans United: Best for first-time home buyers
- SunTrust: Best for first-time home buyers
- Bank of America: Best for refinancing
- LoanDepot: Best for refinancing
- Rocket Mortgage: Best for online experience
- Guaranteed Rate: Best for online experience
- BB&T Home Mortgage: Best for face-to-face service
- Capital One: Best for face-to-face service
- New American Funding: Best for borrowers with bad credit
- Fairway: Best for borrowers with bad credit