 TITLE: What Is an Adjustable-Rate Mortgage? CONTENT: Who Qualifies for an Adjustable-Rate Mortgage?\n----------------------------------------------\nFrom a creditworthiness standpoint, getting an adjustable-rate mortgage isn't more difficult than getting a fixed-rate loan. In some ways, in fact, you may qualify for the former and not the latter.\nBecause an ARM has a lower monthly payment, it can make it easier to qualify based on debt ratios mortgage lenders use. For example, it's common for a lender to require that your monthly housing payment not exceed 28% of your gross income.\nIf a fixed-rate mortgage with a higher interest rate and monthly payment exceeds that amount, you may be able to qualify by switching to a lower payment on an ARM. END