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Best Adjustable-Rate Mortgage Lenders of 2019

Finding the Right Mortgage, Mortgages
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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.

4.5 NerdWallet rating
  • 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
suntrust mortgage
4.0 NerdWallet rating
  • 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.

4.0 NerdWallet rating
  • 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
4.5 NerdWallet rating
  • 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. 

4.5 NerdWallet rating
  • 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
4.5 NerdWallet rating
  • Offers an online application process with secure document uploads and electronic signing
  • Offers ARMs on jumbo mortgages, for purchasing larger, more expensive homes
  • More than 150 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.

4.0 NerdWallet rating
  • 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
4.0 NerdWallet rating
  • 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.

4.5 NerdWallet rating
  • Offers loans for manufactured housing
  • 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
4.0 NerdWallet rating
  • 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

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NerdWallet’s selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.