When I bought my first house 3 years ago, rates were historically low, and not knowing much about mortgages, I decided to go with an adjustable rate mortgage (ARM) which was at 3.75% at the time. After 3 years it adjusted and forced me to rethink my loan strategy. I ended up with a Remortgage at a much higher, but still decent rate of 6.275% which isn’t bad by any means, but definitely isn’t as low as I could have got if I would have gone with a fixed rate mortgage in the first place. I’ve learned my lesson now – If you’re buying a place that you think you’ll be in for the long haul, definitely go with a fixed, but if you’re just looking to do something temporary, go ahead and lock in a low rate 3-5 year ARM. Either way, there are typically plenty of secured loans programs that will be right for you.