A popular program for borrowers who plan to keep the loan less than seven years, the 7/1 ARM is a loan with a fixed rate and payment for the first seven years and then turns into an adjustable rate mortgage for the remaining 23 years of the loan. The primary advantage of the 7/1 ARM is a lower initial rate and payment than available on a 30 year fixed rate mortgage, or the 10/1 ARM.
The interest rate and payment is fixed for the first 84 months of the loan’s 30 year term. At the end of the 84 months, the interest rate adjusts to the lower of:
1. The Secured Overnight Financing Rate (SOFR) plus 3.00%, or
2. The initial start rate plus 5%.
Thereafter, the interest rate will adjust every 6 months to the lower of:
1. The Secured Overnight Financing Rate (SOFR) plus 3.00%,
2. The previous rate plus 1%, or
3. The initial start rate plus 5%.
We offer the 3 main adjustable rate mortgage program options, with the fixed rate portion of the loan ranging from 5 years to 10 years. Visit our specific ARM rate program pages to see how each can benefit you!
Why talk to one of our Licensed Loan Advisors??
Your loan advisor will also explain all the steps–from getting started, to locking in your low rate, to closing your loan fast, in little as 30 days or less!!. Because we are a direct lender, if you have any questions during the loan process, you will have one direct number enabling you to get quick answers straight from the source.
Client Testimonials – What Our Customers are Saying
Complex Situation
Our particular residential situation was unusually complicated because we had to choose loan size/package, we have multiple rental properties with mortgages and have multiple income streams not dominated by traditional employment. Michael Minkoff was extremely effective at helping us navigate through all of this complexity in a very organized, helpful fashion to an excellent financial and personal conclusion. Thank you, Michael.
George H. Schofield Lakewood Ranch, FL
Great experience for the second time
This is the second house we've bough with Michael's help and he made it a painless process yet again. He is always on top of all of the paperwork needed to buy a house, it made it so easy on us. He is professional and such a pleasure to work with.
Erin Fromm Plantation, FL
Complex made easy
Michael Minkoff was great. He worked through all the different ways we could structure our loan and helped us find the one that was absolutely best for our situation. I really appreciated how quick he was to respond to us throughout the process and yet I never felt rushed, as he made sure we understood everything happening throughout the process. I have been and will continue to recommended him to others I know looking for a mortgage.
Berry Long Longwood, FL
The Ideal Experience
Throughout the entire process of purchasing my first home, Michael gave me the kind of service and guidance that made me feel as though my needs were his highest priority, and sometimes even his only priority. I certainly felt as though Michael made a significant effort to establish trust and a personal rapport with me, which is critically important for me when dealing in financial matters. As it relates to knowledge of the industry and available products, Michael's level of expertise is yet another reason to feel as though your needs are in the best hands. I have already recommended Michael to three people, and plan to continue doing so whenever a friend, colleague, or family member is considering buying a home or refinancing.
Justin Vizaro Miami, FL
Michael is the Best!!
We were looking at so many options for our Refi – 15 Year vs. 30 Year, combining two mortgages into one. We tried working with our bank, but became very frustrated at the inflexibility. We decide to talk to Michael because he had helped us so much with our first mortgage almost 10 years ago. Michael gave us the pros and cons of every option we discussed, and was always open to running multiple scenarios for us. When we finally chose the right financing plan for our needs, Michael guided us through every step of the way.
Henry Jost Fort Myers, FL
If you don’t work with Michael now, You’ll hate yourself later.
I can honestly say Michael Minkoff made my first home buying experience a very pleasant one. From our first conversation he explained each and every option that was available to me and I never felt pressured into any decision. My phone call and email communications were handled in a professional and timely manner. All in all I really couldn't imagine my home buying process being any easier. Even now that the deal is done I would still feel 100% comfortable calling Michael with any questions. He extended his expertise beyond the scope of the business deal and I look forward to contacting Michael for my next home purchase. Thanks for everything Michael! Our hats off to you!!
Max Gonzalez Miramar, FL
Exceptional service
Exceptional experience. I never even had to go to an office or meet Michael in person. E signature and good to go. In 3 hours my refinance was secure.
Jeffrey Giordano Miami
Lixin Wan
It was our first time to buy a house. I have zero experiment, Michael Minkoff did all paperwork for us. It was a painless experience, we are so luck to meet you, Michael! Thank you!
Lixin Wan 8509 parrots landing dr. Tampa FL 33647
Outstanding Service!
Working with Michael was the best decision we made. He was helpful and informative through the entire process. There were nights that he was up sending me emails about how to quickly repair my credit score, while most people would be sleeping. His dedication to customer service and finding the best mortgage to fit his clients needs is exactly why we will be calling Michael the next time we are purchasing a house.
David Long Orlando, FL
Michael is the only Mortgage Broker you should work with!
Our friends recommended Michael Minkoff to help us secure a mortgage. It's our first house so we never had any experience with the loan process. From the very first phone call I knew we were in the best hands possible!! Michael took the time and explained very clearly about the different options. He took care of every single detail and went above and beyond to bring us to closing in less than one month. During the loan process, he guided us in a very professional manner and kept us updated on the progress.
The whole process was very quick and smooth and we felt very comfortable throughout it. It was a true pleasure to work with Michael!! I'm sure we will work with him again in the future and will highly recommend him for others. Thank you Michael, you are the best!!Dikla Miller Coral Springs, FL
Thank You!
Our good friend recommended Michael and he helped us to secure a mortgage on our second house in Miramar, FL. We closed our house right on time without any delays. Michael took care of every single detail in the loan approval process and explained very clearly about the different options that was available to us. He guided us in such a professional manner that we didn’t have to worry about anything. He was very prompt and kept us updated throughout the process which went very smoothly. It was a pleasure to work with him and will highly recommend him to our friends too. Thank you Michael!
Kumar Senthil Miramar, FL
Incredible Experience
I worked with Michael to buy a home in Miami. From my first interaction with Michael to the last moment of the closing, Michael was extraordinarily responsive, attentive and kind. Michael is the consummate professional. He is incredibly patient and knowledgeable about the entire real estate industry. I give him my highest recommendation and would not hesitate to use him again in the future.
Judi Haberkorn Miami, FL
Professional job
Mike Minkoff did an outstanding job with my two refinances at the same time! I asked many questions and came up with multiple scenarios and Mike was more than happy to answer everything. He went above and beyond and he knows his stuff.
I would suggest using him again without hesitation.Peter Amendola Key Largo, FL
Thank you
5 stars , great very smooth process.
Shelley Fromm Plantation, Fl
Michael is the best, hands down!
Michael went above and beyond to communicate and help us through this process. Everything Michael told us was accurate and there were no surprises. I will never use anyone else when financing another property in the future! Thank you Mike!
Andrew G. Saint Pete, FL
Over the Top
I have used Shoreline Mortgage 4 times over the past 20 years. I would highly recommend to anyone.
Communication is over the top!! Night or day, email, phone, text, extremely quick to respond.
Michael explains the entire process from beginning to ending at the closing. He is professional, experienced
extremely patient, kind and available to help any time.Cynthia Rogers Plantation Florida
Client
I have dealt with Michael Minkoff in the past. And I found him to be every professional, honest and very forthcoming. This is my third opportunity to have dealt with him on the purchase of Homes and condominiums. And Michael has never disappointed me in any way, during the procedures and purchases of any properties. Over the years I have thought of Michael as more of a friend than a business acquaintance. Michael performs his task over and above its competitors with ease. You guys have a real gem on your hands... Michael Minkoff THE BEST definitely 5 stars.
David Clopton 190 escambi lane Cocoa Beach Florida 32931
On the ball
By far the most convenient, transparent and responsive mortgage broker I have worked with. I've dont multiple loans with Michael and each time he has exceeded expectations.
Jon Shaller Florida
Professional, Responsive, Easy
I have used Mike at Shoreline many times. I keep going back because there is noone better to work with. I have used others but they simply cannot touch the personalized and professional service that Mike and Shoreline provide. I am a client for life.
David Templer North Miami Beach
Shoreline Morgage – Michael Minkoff
I worked with Michael to refinance my home. He made the process so easy, smooth and helped me every step of the way. He made this experience so much easier then I could imagine. I will recommend his service to anyone I know that needs a mortgage and I will definitely use him again in the future. Thank you for everything!
Yaron Levin Coral Springs FL
Here are 3 Great Choices to get you moving in the right direction
A popular program for borrowers who plan to keep the loan less than seven years, the 7/1 ARM is a loan with a fixed rate and payment for the first seven years and then turns into an adjustable rate mortgage for the remaining 23 years of the loan. The primary advantage of the 7/1 ARM is a lower initial rate and payment than available on a 30 year fixed rate mortgage, or the 10/1 ARM.
The interest rate and payment is fixed for the first 84 months of the loan’s 30 year term. At the end of the 84 months, the interest rate adjusts to the lower of:
1. The Secured Overnight Financing Rate (SOFR) plus 3.00%, or
2. The initial start rate plus 5%.
Thereafter, the interest rate will adjust every 6 months to the lower of:
1. The Secured Overnight Financing Rate (SOFR) plus 3.00%,
2. The previous rate plus 1%, or
3. The initial start rate plus 5%.
We offer the 3 main adjustable rate mortgage program options, with the fixed rate portion of the loan ranging from 5 years to 10 years. Visit our specific ARM rate program pages to see how each can benefit you!
Why talk to one of our Licensed Loan Advisors??
Your loan advisor will also explain all the steps–from getting started, to locking in your low rate, to closing your loan fast, in little as 30 days or less!!. Because we are a direct lender, if you have any questions during the loan process, you will have one direct number enabling you to get quick answers straight from the source.
Client Testimonials – What Our Customers are Saying
On the ball
By far the most convenient, transparent and responsive mortgage broker I have worked with. I've dont multiple loans with Michael and each time he has exceeded expectations.
Jon Shaller Florida
Best Mortgage Experience
I am more than satisfied with services of Shoreline Mortgage . I worked through this process with Michael Minkoff. Since the first day until the closing date he was very profesional , very dedicated to his work , very knowledgeable mortgage person , always available with all questions, always available with the best answers. He made the process very smooth. His words always were... no worry , we will make it happens . We did .!!!. I will use Michael and this company for my future purchases or refinance and will definitely recommend his services to family and friends . I can't thank him enough. Thank you Michael for everything. You made it posible . Thank you!
Maylene R. Miami, Fl
Michael is the Best!!
We were looking at so many options for our Refi – 15 Year vs. 30 Year, combining two mortgages into one. We tried working with our bank, but became very frustrated at the inflexibility. We decide to talk to Michael because he had helped us so much with our first mortgage almost 10 years ago. Michael gave us the pros and cons of every option we discussed, and was always open to running multiple scenarios for us. When we finally chose the right financing plan for our needs, Michael guided us through every step of the way.
Henry Jost Fort Myers, FL
House with a view
My wife and I have bought two homes in the last 4 years and have used Michael services each time. He is quick to give you the information you need to make an informed decision. His knowledge of the market is truly exceptional! He is on your side with the banks and always gives you best deal you qualify for. I would highly recommend Michael to anybody looking to finance a new home.
Jason Fromm Plantation, FL
Professional job
Mike Minkoff did an outstanding job with my two refinances at the same time! I asked many questions and came up with multiple scenarios and Mike was more than happy to answer everything. He went above and beyond and he knows his stuff.
I would suggest using him again without hesitation.Peter Amendola Key Largo, FL
Testimonial for Michael Minkoff
My fiance and I purchased our first home last year and we didn’t understand anything about the mortgage process. We met with one broker and we were still confused. We were advised to meet with Michael Minkoff. Michael is extremely knowledgeable and attentive which made both of us feel so comfortable. Everything went so smoothly, and he locked us in at the lowest possible interest rate. We couldn’t have asked for a better experience. Shoreline Mortgage made us feel like we were one of their top clients.
David Houle Parkland, Fl
Exceptional service
Exceptional experience. I never even had to go to an office or meet Michael in person. E signature and good to go. In 3 hours my refinance was secure.
Jeffrey Giordano Miami
Client
I have dealt with Michael Minkoff in the past. And I found him to be every professional, honest and very forthcoming. This is my third opportunity to have dealt with him on the purchase of Homes and condominiums. And Michael has never disappointed me in any way, during the procedures and purchases of any properties. Over the years I have thought of Michael as more of a friend than a business acquaintance. Michael performs his task over and above its competitors with ease. You guys have a real gem on your hands... Michael Minkoff THE BEST definitely 5 stars.
David Clopton 190 escambi lane Cocoa Beach Florida 32931
Outstanding Service!
Working with Michael was the best decision we made. He was helpful and informative through the entire process. There were nights that he was up sending me emails about how to quickly repair my credit score, while most people would be sleeping. His dedication to customer service and finding the best mortgage to fit his clients needs is exactly why we will be calling Michael the next time we are purchasing a house.
David Long Orlando, FL
Great Service
I have used Michael for a mortgage and refinance on two properties. He is very knowledgeable and quick with responses. Both went perfectly and his numbers were spot on. I even referred him to family and friends, all of whom had a great experience. I plan to use Shoreline Mortgage for future investments.
Mike Amendola Deerfield Beach, FL
Michael is the best, hands down!
Michael went above and beyond to communicate and help us through this process. Everything Michael told us was accurate and there were no surprises. I will never use anyone else when financing another property in the future! Thank you Mike!
Andrew G. Saint Pete, FL
Great experience for the second time
This is the second house we've bough with Michael's help and he made it a painless process yet again. He is always on top of all of the paperwork needed to buy a house, it made it so easy on us. He is professional and such a pleasure to work with.
Erin Fromm Plantation, FL
Superb Service and Sound Advice
This was my second refinance with Michael Minkoff and Shoreline and I would not deal with anyone else. He offers great guidance and patience through the refinance process. He gets the job done quickly and will smooth any wrinkles in the process. He is always available to answer any questions or concerns before, during and after the refinance. His professionalism is unparalleled! I highly recommend his services.
Kim Monahan Longwood, FL
The Ideal Experience
Throughout the entire process of purchasing my first home, Michael gave me the kind of service and guidance that made me feel as though my needs were his highest priority, and sometimes even his only priority. I certainly felt as though Michael made a significant effort to establish trust and a personal rapport with me, which is critically important for me when dealing in financial matters. As it relates to knowledge of the industry and available products, Michael's level of expertise is yet another reason to feel as though your needs are in the best hands. I have already recommended Michael to three people, and plan to continue doing so whenever a friend, colleague, or family member is considering buying a home or refinancing.
Justin Vizaro Miami, FL
Thank you
5 stars , great very smooth process.
Shelley Fromm Plantation, Fl
Incredible Experience
I worked with Michael to buy a home in Miami. From my first interaction with Michael to the last moment of the closing, Michael was extraordinarily responsive, attentive and kind. Michael is the consummate professional. He is incredibly patient and knowledgeable about the entire real estate industry. I give him my highest recommendation and would not hesitate to use him again in the future.
Judi Haberkorn Miami, FL
Professional, Responsive, Easy
I have used Mike at Shoreline many times. I keep going back because there is noone better to work with. I have used others but they simply cannot touch the personalized and professional service that Mike and Shoreline provide. I am a client for life.
David Templer North Miami Beach
Complex Situation
Our particular residential situation was unusually complicated because we had to choose loan size/package, we have multiple rental properties with mortgages and have multiple income streams not dominated by traditional employment. Michael Minkoff was extremely effective at helping us navigate through all of this complexity in a very organized, helpful fashion to an excellent financial and personal conclusion. Thank you, Michael.
George H. Schofield Lakewood Ranch, FL
Shoreline Mortgage is excellent
The service and personal attention we received from Michael Minkoff was exceptional and beyond what we were expecting! His knowledge of the local and national market and his commitment in finding us the best rate helped us in our search for our dream home. As first time home buyers everything was new to us and the most important thing we wanted was someone we could trust to give us the best advice. After patiently going through every figure and explaining what each payment was for, Michael made sure we were comfortable and sure of our decisions. He was there for us every step of the way. I'm glad we chose his services and would recommend him to anyone buying a home.
Thomas Coyle Clearwater, Fl
Michael is the best
I have worked with Michael twice and he is a true professional. He takes the time to ensure that his clients understand the entire process of closing on a mortgage and is always willing to explain things until the client is comfortable. Patient, kind and understanding - Michael is exactly the type of person you want working on your behalf. I would never work with anyone else!
David Gerhart Jacksonville, Fl
Here are 3 Great Choices to get you moving in the right direction