{"id":23179,"date":"2026-02-28T07:49:54","date_gmt":"2026-02-28T07:49:54","guid":{"rendered":"https:\/\/infinpros.com\/?p=23179"},"modified":"2026-02-28T07:49:55","modified_gmt":"2026-02-28T07:49:55","slug":"what-is-a-7-1-adjustable-rate-mortgage-arm","status":"publish","type":"post","link":"https:\/\/infinpros.com\/?p=23179","title":{"rendered":"What Is A 7\/1 Adjustable-Rate Mortgage (ARM)?"},"content":{"rendered":"<div>\n<div id=\"block_548d3b92753ab7bb3802cd10883266c4\" class=\"key-takeaways sm:border-l-4 border-(--accent) sm:pl-8 my-8 relative\" style=\"--accent: var(--color-blue-medium)\">\n    <!-- htmlmin:ignore --><\/p>\n<h2 class=\"heading-4 mt-0 mb-4 text-crop-none max-sm:flex max-sm:items-center max-sm:gap-4\" id=\"key-takeaways\" data-position=\"0\" data-beam-element-viewed=\"\" data-id=\"br-h2-0-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Key takeaways\" data-outcome=\"\">\n    <span class=\"shrink-0\">Key takeaways<\/span><br \/>\n        <span class=\"max-sm:h-0.5 max-sm:w-full max-sm:w-full max-sm:bg-(--accent) max-sm:rounded-full max-sm:block\"\/><br \/>\n    <\/h2>\n<p>    <!-- htmlmin:ignore --><\/p>\n<ul class=\"flex flex-col text-gray-700 mb-0 gap-2 list-disc\">\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            A 7\/1 ARM is a type of adjustable-rate mortgage (ARM) that has a fixed interest rate for the first seven years, then a variable rate that changes yearly until the end of the mortgage term.\n                                                <\/li>\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            The initial fixed rate on a 7\/1 ARM is usually lower than the rate on a comparable fixed-rate mortgage.\n                                                <\/li>\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            A 7\/1 ARM could be a good option if you know you\u2019ll sell the home or refinance within the first seven years. Otherwise, a fixed rate might be better.\n                                                <\/li>\n<\/ul>\n<\/div>\n<h2 id=\"definition\" data-position=\"1\" data-beam-element-viewed=\"\" data-id=\"br-h2-1-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"What is a 7\/1 ARM?\" data-outcome=\"\">What is a 7\/1 ARM?<\/h2>\n<p>A 7\/1 adjustable-rate mortgage (ARM) comes with a fixed interest rate for the first seven years of the loan term. After that, the rate can change once a year \u2014 within certain limits \u2014 until the mortgage term ends, usually after 30 years.<\/p>\n<p>These changes come with risk. If prevailing rates have decreased, your rate and your monthly payment will also decrease. But rates and your payment could increase, too. If you haven\u2019t planned carefully, they could rise to an unaffordable level.<\/p>\n<p>In addition to 7\/1 ARMs, some mortgage lenders offer 7\/6 ARMs. These also have a fixed introductory rate for the first seven years, but the variable rate adjusts every six months after that, rather than once per year.<\/p>\n<section class=\"editorial-insight-box --insight-box +mg-vertical-md\" data-template=\"insight_box\">\n<div class=\"card-body border-l-4 border-blue-800\">\n<div class=\"content-wrapper\">\n<p>\n                    Adjustable-rate mortgages vs. fixed-rate mortgages\n                <\/p>\n<div class=\"content wysiwyg wysiwyg--flush\">\n<p>Adjustable-rate mortgages are one home loan option, but most borrowers choose fixed-rate mortgages. Fixed-rate mortgages usually have higher rates than the initial rate on an ARM, but that rate never changes, insulating borrowers from market movements. If rates do decrease in the future, you can always refinance a fixed-rate loan.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<h3>How does a 7\/1 ARM work?<\/h3>\n<p>ARM adjustments, including 7\/1 ARM adjustments, are based on a benchmark or index rate. Many ARMs rely on the 11th District Cost of Funds Index (COFI) or the Secured Overnight Financing Rate (SOFR). Your lender will take this rate and add a margin to arrive at the rate you pay.<\/p>\n<p>ARMs also have limits on how much the rate can increase: the first or initial adjustment cap, a periodic or subsequent adjustment cap and the lifetime cap.<\/p>\n<h3>7\/1 ARM requirements<\/h3>\n<p>The <u>requirements for a 7\/1 ARM<\/u> vary by lender and loan type. For a conventional ARM, the minimum criteria include:<\/p>\n<ul class=\"wp-block-list\">\n<li>620 credit score<\/li>\n<li>5 percent down payment<\/li>\n<\/ul>\n<h3>Example of a 7\/1 ARM<\/h3>\n<p>Let\u2019s say you take out a 7\/1 ARM in the amount of $320,000 at an initial rate of 6.67 percent. The mortgage is indexed against SOFR. It has a 3 percent first adjustment cap, a 2 percent periodic cap and an 8 percent lifetime cap.<\/p>\n<p>In this scenario, you\u2019ll have a fixed monthly payment of about $2,060 for the first seven years of the mortgage.<\/p>\n<p>If SOFR has increased by the time your first adjustment hits, your rate will also increase, but within the loan\u2019s parameters. Your rate can never go higher than 14.67 percent.<\/p>\n<h2 id=\"pros-cons\" data-position=\"2\" data-beam-element-viewed=\"\" data-id=\"br-h2-2-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Pros and cons of a 7\/1 ARM\" data-outcome=\"\">Pros and cons of a 7\/1 ARM<\/h2>\n<div id=\"block_a197a82ac87cec45e920c9fb34bd0666\" class=\"flex flex-col gap-8 my-6 not-wysiwyg\">\n<div class=\"ProsAndConsTable\">\n<div class=\"ProsAndConsItem\">\n<div class=\"ProsAndConsItem-headerContainer flex items-center gap-2\">\n<div><\/div>\n<p>            <!-- htmlmin:ignore --><\/p>\n<h3 class=\"ProsAndConsItem-header\">\n    Pros<br \/>\n    <\/h3>\n<p>    <!-- htmlmin:ignore -->\n        <\/div>\n<ul class=\"ProsAndConsItem-list\">\n<li>They\u2019re typically cheaper at first. The introductory interest rate on a 7\/1 ARM might be much lower than the rate on a 30-year, fixed mortgage. A lower rate means lower monthly payments.<\/li>\n<li>They\u2019re typically cheaper at first. The introductory interest rate on a 7\/1 ARM might be much lower than the rate on a 30-year, fixed mortgage. A lower rate means lower monthly payments.<\/li>\n<li>The payments might decrease. If prevailing interest rates are lower at the first rate adjustment or subsequent adjustments, you could save money.<\/li>\n<li>The payments might decrease. If prevailing interest rates are lower at the first rate adjustment or subsequent adjustments, you could save money.<\/li>\n<li>You\u2019re protected \u2014 somewhat. Although there\u2019s a real risk your rate will rise, there are caps that limit the increase.<\/li>\n<li>You\u2019re protected \u2014 somewhat. Although there\u2019s a real risk your rate will rise, there are caps that limit the increase.<\/li>\n<\/ul><\/div>\n<div class=\"ProsAndConsItem\">\n<div class=\"ProsAndConsItem-headerContainer flex items-center gap-2\">\n<div>\n                <img decoding=\"async\" src=\"https:\/\/infinpros.com\/wp-content\/uploads\/2025\/06\/remove-circle.svg.svg+xml\" alt=\"Red circle with an X inside\"\/>\n            <\/div>\n<p>            <!-- htmlmin:ignore --><\/p>\n<h3 class=\"ProsAndConsItem-header\">\n    Cons<br \/>\n    <\/h3>\n<p>    <!-- htmlmin:ignore -->\n        <\/div>\n<ul class=\"ProsAndConsItem-list\">\n<li>The risk never goes away. With every annual adjustment after those first seven years, your interest rate and payments could increase, even if they went down at first.<\/li>\n<li>The risk never goes away. With every annual adjustment after those first seven years, your interest rate and payments could increase, even if they went down at first.<\/li>\n<li>It\u2019s harder to budget. A mortgage is often a household\u2019s largest monthly expense. Once your rate starts adjusting, it can be more challenging to plan for these payments.<\/li>\n<li>It\u2019s harder to budget. A mortgage is often a household\u2019s largest monthly expense. Once your rate starts adjusting, it can be more challenging to plan for these payments.<\/li>\n<li>They have a more complicated structure. An adjustable-rate mortgage has more moving parts than a fixed-rate one, with an index, margin and caps. Some even have interest-only periods. This complexity can make it harder to understand how your rate and payments might change over time.<\/li>\n<li>They have a more complicated structure. An adjustable-rate mortgage has more moving parts than a fixed-rate one, with an index, margin and caps. Some even have interest-only periods. This complexity can make it harder to understand how your rate and payments might change over time.<\/li>\n<\/ul><\/div>\n<\/div><\/div>\n<h2 id=\"when-to-use\" data-position=\"3\" data-beam-element-viewed=\"\" data-id=\"br-h2-3-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Should you get a 7\/1 ARM?\" data-outcome=\"\">Should you get a 7\/1 ARM?<\/h2>\n<p>While a 7\/1 ARM comes with some risk, choosing one could make sense in a few situations. These include:<\/p>\n<ul class=\"wp-block-list\">\n<li>\n<strong>You plan to refinance or sell before the first adjustment: <\/strong>If you don\u2019t end up sticking with your home or loan long term, an ARM could save you money. But keep in mind, there\u2019s no guarantee you\u2019ll qualify to refinance or be able to sell your home within the seven-year timeline.<\/li>\n<li>\n<strong>You can reasonably expect your income to grow: <\/strong>If you can comfortably afford your initial ARM payments and expect your income to increase soon \u2014 maybe because you\u2019re finishing a job training program \u2014 you may not need to worry about a higher monthly payment. But, again, there are no guarantees.<\/li>\n<\/ul>\n<p>If you decide not to choose an ARM, the vast majority of borrowers pick a fixed-rate mortgage, which has stable principal and interest payments for the entire loan term.<\/p>\n<section class=\"editorial-insight-box --insight-box +mg-vertical-md\" data-template=\"insight_box\">\n<div class=\"card-body border-l-4 border-blue-800\">\n<div class=\"content-wrapper\">\n<p>\n                    Who should avoid a 7\/1 ARM?\n                <\/p>\n<div class=\"content wysiwyg wysiwyg--flush\">\n<p>Since there is a chance of rates increasing, and your monthly payments with it, a 7\/1 ARM isn\u2019t the right choice if you want a standard, predictable amortization schedule. Variability in the future housing market and your personal finances may add more stress to those who are more risk averse.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<h2 id=\"other-arm-types\" data-position=\"4\" data-beam-element-viewed=\"\" data-id=\"br-h2-4-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Other types of adjustable-rate mortgages\" data-outcome=\"\">Other types of adjustable-rate mortgages<\/h2>\n<p>7\/1 ARMs are just one type of ARM. Other common options include:<\/p>\n<ul class=\"wp-block-list\">\n<li>\n<strong><u>10\/1 ARM<\/u><\/strong><strong> or 10\/6 ARM: <\/strong>This has a fixed introductory rate for 10 years. The rate then adjusts annually (10\/1) or every six months (10\/6) afterward.<\/li>\n<li>\n<strong><u>5\/1 ARM<\/u><\/strong><strong> or 5\/6 ARM: <\/strong>This has a fixed introductory rate for five years. The rate then adjusts annually (5\/1) or every six months (5\/6) afterward.<\/li>\n<li>\n<strong>3\/1 ARM<\/strong><strong> or 3\/6 ARM: <\/strong>This has a fixed introductory rate for three years. The rate then adjusts annually (3\/1) or every six months (3\/6) afterward.<\/li>\n<\/ul>\n<p><h2 id=\"faq\" data-position=\"5\" data-beam-element-viewed=\"\" data-id=\"br-h2-5-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"FAQ\" data-outcome=\"\">FAQ<\/h2>\n<\/p>\n<ul class=\"Accordion w-full align\">\n<li x-id=\"['panel-should-you-choose-an-arm-if-you-think-rates-will-decrease', 'heading-should-you-choose-an-arm-if-you-think-rates-will-decrease']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-should-you-choose-an-arm-if-you-think-rates-will-decrease')\" :aria-controls=\"$id('panel-should-you-choose-an-arm-if-you-think-rates-will-decrease')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Should you choose an ARM if you think rates will decrease?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-should-you-choose-an-arm-if-you-think-rates-will-decrease')\" :aria-labelledby=\"$id('heading-should-you-choose-an-arm-if-you-think-rates-will-decrease')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n            You might be tempted to choose an ARM if you think interest rates are on the decline these days. But seven years is a long time, and there are many factors that could move mortgage rates in either direction between now and then. It\u2019s not wise to pick an ARM with the assumption that rates will go down, especially if the highest possible monthly payment isn\u2019t affordable.\n        <\/div>\n<\/div>\n<\/li>\n<li x-id=\"['panel-accordion-item-0', 'heading-accordion-item-0']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-accordion-item-0')\" :aria-controls=\"$id('panel-accordion-item-0')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Can you refinance a seven-year ARM?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-accordion-item-0')\" :aria-labelledby=\"$id('heading-accordion-item-0')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<p>\n            You can refinance a seven-year ARM to another ARM or a fixed-rate mortgage, provided you qualify from a financial standpoint. If you\u2019re eligible, this might be one way to avoid a potential rate increase at the first rate reset.\n        <\/p>\n<\/div>\n<\/li>\n<li x-id=\"['panel-accordion-item-1', 'heading-accordion-item-1']\" x-data=\"{ expanded: 0 }\" class=\"Accordion-item\">\n<button class=\"Accordion-titleContainer py-4 px-3 sm:px-6 group sm:py-6\" type=\"button\" :id=\"$id('heading-accordion-item-1')\" :aria-controls=\"$id('panel-accordion-item-1')\" :aria-expanded=\"expanded ? true : false\" x-on:click=\"expanded = !expanded\" :data-outcome=\"expanded ? 'open_accordion' : 'close_accordion'\"><!-- htmlmin:ignore --><\/p>\n<h3 class=\"Accordion-title my-0 mr-2 md:flex-1\">\n    Can you pay off a 7\/1 ARM loan early?<br \/>\n    <\/h3>\n<p><!-- htmlmin:ignore --><span class=\"Accordion-icon Icon mb-0 block leading-none Icon--sm icon-base-blue-600\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><title>Caret Down Icon<\/title>\n<path d=\"M12 17.152c-.33 0-.675-.131-.94-.378L3.384 9.09a1.32 1.32 0 0 1 0-1.86c.51-.51 1.351-.51 1.862 0L12 13.977l6.755-6.747c.51-.51 1.351-.51 1.862 0 .51.51.51 1.35 0 1.86l-7.694 7.684a1.295 1.295 0 0 1-.94.378H12Z\" class=\"icon-base\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"Accordion-contentWrapper\" :id=\"$id('panel-accordion-item-1')\" :aria-labelledby=\"$id('heading-accordion-item-1')\" x-show=\"expanded\" x-collapse=\"\" role=\"region\" style=\"height: 0; overflow: hidden; display: none;\">\n<div class=\"Accordion-content text-gray-700 px-3 pb-4 sm:px-6 sm:pb-6\">\n            You can pay off a 7\/1 ARM early. However, you might be subject to a prepayment penalty.\n        <\/div>\n<\/div>\n<\/li>\n<\/ul>\n<div class=\"HelpfulCTA mx-auto flex flex-col items-center gap-6 my-6 py-12 text-base border-y border-gray-200\" data-helpful-cta=\"\" data-beam-element-viewed=\"\" id=\"did-you-find-this-helpful\" data-type=\"cta\" data-location=\"article-bottom\" data-position=\"banner\" data-text=\"Did you find this page helpful?\">\n<div class=\"HelpfulCTA-initial w-full flex flex-col items-center gap-4\" data-cta-initial=\"\">\n<div class=\"HelpfulCTA-question text-lg font-bold text-center text-gray-900\">\n            Did you find this page helpful?<\/p>\n<div id=\"NgczmX0lPX\" class=\"hidden\">\n<div class=\"wysiwyg wysiwyg--sm wysiwyg--flush max-w-xs\">\n<p class=\"mb-6 text-base\">\n                            <strong class=\"block font-bold text-gray-900\">Why we ask for feedback<\/strong><br \/>\n                            Your feedback helps us improve our content and services. 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0-.323.322c-.075.15-.075.603-.075 1.226v7.68c0 .623 0 1.075.075 1.226.075.14.183.247.323.322.15.075.603.075 1.228.075h.16c.625 0 1.078 0 1.228-.075a.778.778 0 0 0 .324-.322c.075-.151.075-.603.075-1.227V5.423c0-.623 0-1.076-.075-1.226a.722.722 0 0 0-.324-.322c-.15-.076-.603-.076-1.227-.076h-.161Z\" class=\"icon-base\"\/><\/svg><\/span> <span class=\"text-base leading-4\">No<\/span><br \/>\n            <\/button>\n        <\/div>\n<\/p><\/div>\n<p>    <!-- Yes Form --><\/p>\n<p>    <!-- No Form --><\/p>\n<div class=\"HelpfulCTA-thankyou flex flex-col items-center gap-2\" data-cta-thankyou=\"\" style=\"display:none;\">\n<p>Thank you for your<br \/>\n            feedback!<\/p>\n<p>Your input helps us improve our<br \/>\n            content and services.<\/p>\n<\/p><\/div>\n<\/div><\/div>\n<p>Read the full article <a href=\"https:\/\/www.bankrate.com\/mortgages\/what-is-a-7-1-arm\/\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways A 7\/1 ARM is a type of adjustable-rate mortgage (ARM) that has a fixed interest rate for the first seven years, then a variable rate that changes yearly until the end of the mortgage term. The initial fixed rate on a 7\/1 ARM is usually lower than the rate on a comparable fixed-rate<\/p>\n","protected":false},"author":1,"featured_media":23180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":{"0":"post-23179","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-homes"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is A 7\/1 Adjustable-Rate Mortgage (ARM)? | InfinPros<\/title>\n<meta name=\"description\" content=\"Key takeaways A 7\/1 ARM is a type of adjustable-rate mortgage (ARM) that has a fixed interest rate for the first seven years, then a variable rate that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infinpros.com\/?p=23179\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is A 7\/1 Adjustable-Rate Mortgage (ARM)? 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