North Florida mortgage lenders offer in addition to fixed-rate and hybrid loans, the adjustable-rate mortgage (ARM) which means that the interest rate and monthly payment can change over the span of the loan. This is due to an interest rate for an ARM that is tied to an index and that index can change from year to year. Adjustable-rate mortgages in North Florida and across the county have become widely accepted as an alternative to fixed-rate mortgages because of their protections and low introductory rates.