2/28 Adjustable-Rate Mortgage
A 2/28 adjustable-rate mortgage has a fixed initial rate for two years followed by rate adjustments for the remaining term.
Hybrid ARM Products covers 2/28 Adjustable-Rate Mortgage, 3/27 Adjustable-Rate Mortgage (ARM), 5/1 Hybrid ARM, 5/6 Hybrid ARM, and related property-finance topics for mortgage-rate, ARM, cap, lock, and pricing analysis.
Hybrid ARM Products covers mortgage rates, ARMs, hybrid ARMs, rate caps, indexes, buydowns, discount mortgages, locks, float-downs, and rate-sheet terms.
Use these pages when rate structure or lock mechanics change borrower cost, payment volatility, prepayment behavior, or investor yield. It sits inside Adjustable-Rate and Hybrid Mortgages, so readers can move up when the broader property-finance context matters.
Use the table below to choose the narrower mortgage or real-estate finance branch before applying a term to a loan file, closing record, servicing review, investor report, appraisal, or valuation model. Move into the term page when the document, calculation, party role, lien position, or property cash flow matters.
| Area | Use it for |
|---|---|
| 2/28 Adjustable-Rate Mortgage | A 2/28 adjustable-rate mortgage has a fixed initial rate for two years followed by rate adjustments for the remaining term. |
| 3/27 Adjustable-Rate Mortgage (ARM) | A 3/27 adjustable-rate mortgage has a fixed initial rate for three years before annual or periodic rate adjustments begin. |
| 5/1 Hybrid ARM | Adjustable-rate mortgage with a five-year fixed period followed by annual rate resets tied to an index and margin. |
| 5/6 Hybrid ARM | A 5/6 hybrid ARM has a fixed rate for five years and then adjusts every six months under its index and margin. |
| Hybrid Adjustable-Rate Mortgage | A hybrid adjustable-rate mortgage combines an initial fixed-rate period with later adjustable-rate resets. |
Mortgage-rate content is educational and does not provide rate forecasts, borrowing advice, refinancing advice, or investment recommendations.
Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.
A 2/28 adjustable-rate mortgage has a fixed initial rate for two years followed by rate adjustments for the remaining term.
A 3/27 adjustable-rate mortgage has a fixed initial rate for three years before annual or periodic rate adjustments begin.
Adjustable-rate mortgage with a five-year fixed period followed by annual rate resets tied to an index and margin.
A 5/6 hybrid ARM has a fixed rate for five years and then adjusts every six months under its index and margin.
A hybrid adjustable-rate mortgage combines an initial fixed-rate period with later adjustable-rate resets.