Due to current weather conditions, and for the safety of our customers and team members, our locations in the following cities are closed today, December 9: Devils Lake, Minot and Park River.

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Adjustable-Rate Mortgage (ARM)

Definition

Also known as a variable-rate mortgage. The initial interest rate is usually below that of conventional fixed-rate loans. The interest rate may change over the life of the loan as market conditions change. These changes will affect the payment amount.