An adjustable-rate mortgage differs from a fixed-rate mortgage in many ways. Most importantly, with a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an ARM, the interest rate changes periodically, usually in relation to an index, and payments may go up or down accordingly. At Canyon Mortgage we offer 3,5-,7- and 10-year Adjustable-rate products, as well as interest only products at low competitive rates, call us to discuss the options that fits your current needs.