An adjustable-rate mortgage has an interest rate and monthly payment that can change over the span of your loan North Florida. They usually have a lower introductory interest rate, but there are some key factors to consider before choosing this type of loan. Carefully consider how long you plan to own your Jacksonville Florida property and how frequently your monthly payment may change. The low initial interest rate makes them attractive during times of high interest rates, or when homeowners plan to stay in their home for short periods of time. Some homebuyers find it easier to qualify for an adjustable-rate than a traditional loan. If you plan to stay in your home long term or are hesitant about having loan payments that vary from year to year, then a fixed rate mortgage may suit you better.