What is a 5/1 adjustable-rate mortgage (ARM)?
A 5/1 ARM is a common type of adjustable-rate mortgage.
Maggie Klokkenga is a CERTIFIED FINANCIAL PLANNER™, CPA, AFC®, and the founder of Make a Money Mindshift, a financial coaching firm in central Illinois.
Maggie has been in the financial services industry for over 25 years, and she thoroughly enjoys helping people put the pieces of their money puzzle together, including solving the ubiquitous question of “Where is my money going?” Maggie teaches that once you discover your WHY, you can adjust your mindset and change your HOWs to achieve your WHATs. She has spoken about money mindset and spending to organizations such as Ladies Get Paid, Sodexo, Salesforce.org, and FemCity, and has been quoted in the Associated Press, CBS News MoneyWatch, NerdWallet, and GoBankingRates.
Learn more about Maggie at https://makeamoneymindshift.com. You can follow her on LinkedIn, Facebook, and Instagram at Make a Money Mindshift.
A 5/1 ARM is a common type of adjustable-rate mortgage.
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