No, adjustable-rate mortgages are not the worst product ever introduced and created only for suckers. Even though that is what many pundits want you to believe.
That does not mean they are a better deal or better for everyone. However, there are a few specific situations when adjustable loans are a good choice.
Adjustable loans have their downsides too. One major downside is that you will still have to make higher payments if the rate adjusts, even if you pay down the loan.
if you do not, this is where portfolio lenders come in. Portfolio lenders are institutions, typically banks or credit unions, that offer loans they intend to hold on their own balance sheet or portfolio.