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What does ARM stand for?


ARM stands for Adjustable-rate mortgage.

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Which is a typical repayment length for a mortgage?


Although mortgage terms can vary, the standard is 30 years.

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Key Takeaways

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Like many things, the key to a good mortgage application process is preparation. As you get ready, know what your options are and what you could do to start out on the right foot.

  • Prequalify for a mortgage to get a sense of your buying power, and show sellers you’re a good candidate—but don’t forget to keep in mind what housing payment will be comfortable for you
  • Consider adjustable and fixed-rate mortgages, and which might be right for you
  • Adjustable-rate mortgages can be harder to plan for
  • Shop around for the best rate