if loan was only originated in 2021 and rate is reset now

if the loan was only originated in 2021 and the rate is resetting now, it is most likely a bridge loan, 

most of the time, if the loan was originated and serviced by a local bank, most of them are 10-15-year term but rates will reset every 5 years if the loan originated by Fannie/Freddie, it can be 7/10/12 year term and the rate doesn't change thru the course of the loan.