ARM Questions For Yourself 

An ARM or adjustable rate mortgage is popular with many people because it comes with a lower initial monthly payment and interest rate. The problem is the rate and payment can go up. Ask yourself how long you intend to be in the home, what the cap is on the rate increases or decreases and how comfortable you are with those. In general, an expectation of living in a home for a short period of time makes an ARM a good choice.