ARMOUR Residential REIT (ARR) 10-K 12 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 11, 2025	Jun. 28, 2024
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-34766
Entity Registrant Name	ARMOUR RESIDENTIAL REIT, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-1908763
Entity Address, Address Line One	3001 Ocean Drive, Suite 201
Entity Address, City or Town	Vero Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32963
City Area Code	772
Local Phone Number	617-4340
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 941,721,941
Entity Common Stock, Shares Outstanding (in shares)		76,414,932
Documents Incorporated by Reference	Certain portions of the registrant’s definitive proxy statement pursuant to Regulation 14A of the Securities Exchange Act of 1934 for its 2025 annual meeting of stockholders are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0001428205
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Series C Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Preferred Stock, 7.00% Series C Cumulative Redeemable
Trading Symbol	ARR-PRC
Security Exchange Name	NYSE
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	ARR
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Miami, Florida
Auditor Firm ID	34

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 67,970	$ 221,888
Cash collateral posted to counterparties	78,213	36,970
Investments in securities, at fair value:
Derivatives, at fair value	908,063	877,412
Accrued interest receivable	52,874	47,111
Prepaid and other	1,419	1,260
Total Assets	13,547,953	12,344,395
Liabilities:
Repurchase agreements, net (including $4,895,003 and $4,667,483, respectively with BUCKLER)	10,713,830	9,647,982
Obligations to return securities received as collateral, at fair value	493,433	350,273
Cash collateral posted by counterparties	833,857	860,130
Payable for unsettled purchases	103,509	171,513
Derivatives, at fair value	1,285	5,036
Accrued interest payable - repurchase agreements (including $14,442 and $12,345, respectively with BUCKLER)	32,090	26,509
Accrued interest payable - U.S. Treasury Securities sold short	3,801	5,049
Accounts payable and other accrued expenses	4,733	6,719
Total Liabilities	12,186,538	11,073,211
Commitments and contingencies (Note 9 and Note 15)
Preferred Stock, Number of Shares, Par Value and Other Disclosure [Abstract]
Common stock, $0.001 par value, 125,000 and 90,000 shares authorized; 62,412 shares and 48,799 shares issued and outstanding, respectively.	62	49
Additional paid-in capital	4,585,739	4,318,155
Cumulative distributions to stockholders	(2,383,539)	(2,220,567)
Accumulated net loss	(840,854)	(826,460)
Total Stockholders’ Equity	1,361,415	1,271,184
Total Liabilities and Stockholders’ Equity	13,547,953	12,344,395
Series C Preferred Stock
Preferred Stock, Number of Shares, Par Value and Other Disclosure [Abstract]
Preferred stock, $0.001 par value, 50,000 shares authorized; 7.00% Series C Cumulative Preferred Stock; 6,847 shares issued and outstanding ($171,175 aggregate liquidation preference).	7	7
BUCKLER Securities, LLC | Related Party
Liabilities:
Repurchase agreements, net (including $4,895,003 and $4,667,483, respectively with BUCKLER)	4,895,003	4,667,483
Agency Securities
Investments in securities, at fair value:
Debt securities	12,439,414	11,159,754
Agency Securities | BUCKLER Securities, LLC | Related Party
Liabilities:
Accrued interest payable - repurchase agreements (including $14,442 and $12,345, respectively with BUCKLER)	$ 14,442	$ 12,345

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands		12 Months Ended
	Jan. 28, 2020	Dec. 31, 2024	Dec. 31, 2023
Repurchase agreements, net		$ 10,713,830	$ 9,647,982
Accrued interest payable, repurchase agreements, amounts with BUCKLER		$ 32,090	$ 26,509
Preferred stock, par value (in dollars per share)		$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)		50,000,000	50,000,000
Preferred stock, shares issued (in shares)		6,847,000	6,847,000
Preferred stock, shares outstanding (in shares)		6,847,000	6,847,000
Preferred stock, aggregate liquidation preference		$ 171,175	$ 171,175
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001
Common stock, shares authorized (in shares)		125,000,000	90,000,000
Common stock, shares issued (in shares)		62,412,000	48,799,000
Common stock, shares outstanding (in shares)		62,412,000	48,799,000
Series C Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000
Preferred stock, dividend rate (as percent)	7%	7%	7%
Preferred stock, shares issued (in shares)		6,847,000	6,847,000
Preferred stock, shares outstanding (in shares)		6,847,000	6,847,000
Preferred stock, aggregate liquidation preference		$ 171,175	$ 171,175
BUCKLER Securities, LLC | Related Party
Repurchase agreements, net		4,895,003	4,667,483
Agency Securities
Pledged securities		11,796,858	10,599,340
Agency Securities | BUCKLER Securities, LLC | Related Party
Pledged securities		5,733,374	5,400,138
Accrued interest payable, repurchase agreements, amounts with BUCKLER		$ 14,442	$ 12,345

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest Income:
Interest Income (including $0, $973 and $1,597, respectively with BUCKLER)		$ 550,946	$ 552,903	$ 228,432
Interest expense (including $(249,313), $(245,846) and $(59,807), respectively with BUCKLER)		(524,146)	(525,794)	(120,768)
Net Interest Income		26,800	27,109	107,664
Other Income (Loss):
Realized loss on sale of available for sale Agency Securities (reclassified from Other comprehensive loss)		0	(7,471)	(7,452)
Impairment losses on available for sale Agency Securities		0	0	(4,183)
Loss on Agency Securities, trading, net		(348,646)	(52,665)	(946,666)
Gain on derivatives, net	[1]	323,500	51,748	810,808
Total Other Income (Loss)		12,456	(51,481)	(299,761)
Expenses:
Management fees		39,734	38,188	33,774
Compensation		4,737	4,944	5,485
Other Operating		15,779	7,019	6,374
Total Expenses		60,250	50,151	45,633
Less management fees waived		(6,600)	(6,600)	(7,800)
Total Expenses after fees waived		53,650	43,551	37,833
Net Loss		(14,394)	(67,923)	(229,930)
Dividends on preferred stock		(11,982)	(11,982)	(11,982)
Net Loss related to common stockholders		(26,376)	(79,905)	(241,912)
Reclassification adjustment for realized loss on sale of available for sale Agency Securities		0	7,471	7,452
Reclassification adjustment for impairment losses on available for sale Agency Securities		0	0	4,183
Net unrealized gain (loss) on available for sale Agency Securities		0	4,056	(130,135)
Other Comprehensive income (loss)		0	11,527	(118,500)
Comprehensive Loss		(14,394)	(56,396)	(348,430)
Dividends on preferred stock		11,982	11,982	11,982
Comprehensive Loss related to common stockholders		$ (26,376)	$ (68,378)	$ (360,412)
Net Loss per share related to common stockholders (Note 12):
Basic (in dollars per share)		$ (0.51)	$ (1.86)	$ (10.25)
Diluted (in dollars per share)		(0.51)	(1.86)	(10.25)
Dividends declared per common share (in dollars per share)		$ 2.88	$ 5	$ 6
Weighted average common shares outstanding:
Basic (in shares)		52,158	43,054	23,594
Diluted (in shares)		52,158	43,054	23,594
Agency Securities
Other Income (Loss):
Loss on Agency Securities, trading, net		$ (348,646)	$ (52,665)	$ (946,666)
US Treasury Securities
Other Income (Loss):
Gain (Loss) on U.S. Treasury Securities, net		$ 37,602	$ (43,093)	$ (152,268)
[1]Interest income and expense related to our interest rate swap contracts is recorded in gain on derivatives, net on the consolidated statements of operations and comprehensive income (loss). For additional information, see financial statement Note 8.

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest income	$ 550,946	$ 552,903	$ 228,432
Interest expense	524,146	525,794	120,768
BUCKLER Securities, LLC | Related Party
Interest income	0	973	1,597
Interest expense	$ 59,807	$ 245,846	$ 249,313

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Cumulative Distributions to Stockholders	Accumulated Net Loss	Accumulated Other Comprehensive Income (Loss)
Beginning balance, preferred (in shares) at Dec. 31, 2021		6,847,000
Beginning balance, common (in shares) at Dec. 31, 2021			18,831,000
Beginning balance at Dec. 31, 2021	$ 1,143,639	$ 7	$ 19	$ 3,403,202	$ (1,837,955)	$ (528,607)	$ 106,973
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(348,430)					(229,930)	(118,500)
Issuance of stock, net (in shares)			14,008,000
Issuance of stock, net	475,537		$ 14	475,523
Stock based compensation, net of withholding requirements (in shares)			39,000
Stock based compensation, net of withholding requirements	$ 3,696			3,696
Common stock repurchased (in shares)	0		(296,000)
Common stock repurchased	$ (7,664)			(7,664)
Preferred stock dividends	(11,982)				(11,982)
Common stock dividends	(142,424)				(142,424)
Ending balance, preferred (in shares) at Dec. 31, 2022		6,847,000
Ending balance, common (in shares) at Dec. 31, 2022			32,582,000
Ending balance at Dec. 31, 2022	1,112,372	$ 7	$ 33	3,874,757	(1,992,361)	(758,537)	(11,527)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(56,396)					(67,923)	11,527
Issuance of stock, net (in shares)			16,636,000
Issuance of stock, net	450,148		$ 16	450,132
Stock based compensation, net of withholding requirements (in shares)			58,000
Stock based compensation, net of withholding requirements	$ 3,201			3,201
Common stock repurchased (in shares)	0		(477,000)
Common stock repurchased	$ (9,935)			(9,935)
Preferred stock dividends	(11,982)				(11,982)
Common stock dividends	$ (216,224)				(216,224)
Ending balance, preferred (in shares) at Dec. 31, 2023	6,847,000	6,847,000
Ending balance, common (in shares) at Dec. 31, 2023	48,799,000		48,799,000
Ending balance at Dec. 31, 2023	$ 1,271,184	$ 7	$ 49	4,318,155	(2,220,567)	(826,460)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(14,394)					(14,394)
Issuance of stock, net (in shares)			13,624,000
Issuance of stock, net	265,700		$ 13	265,687
Stock based compensation, net of withholding requirements (in shares)			59,000
Stock based compensation, net of withholding requirements	$ 3,241			3,241
Common stock repurchased (in shares)	0		(70,000)
Common stock repurchased	$ (1,344)			(1,344)
Preferred stock dividends	(11,982)				(11,982)
Common stock dividends	$ (150,990)				(150,990)
Ending balance, preferred (in shares) at Dec. 31, 2024	6,847,000	6,847,000
Ending balance, common (in shares) at Dec. 31, 2024	62,412,000		62,412,000
Ending balance at Dec. 31, 2024	$ 1,361,415	$ 7	$ 62	$ 4,585,739	$ (2,383,539)	$ (840,854)	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows Provided By (Used In) Operating Activities:
Net Loss	$ (14,394,000)	$ (67,923,000)	$ (229,930,000)
Adjustments to reconcile net loss to net cash and cash equivalents and cash collateral posted to counterparties provided by operating activities:
Net (accretion) amortization of premium on Agency Securities	(345,000)	3,388,000	18,390,000
Realized loss on sale of Agency Securities, available for sale	0	7,471,000	7,452,000
Impairment losses on available for sale Agency Securities	0	0	4,183,000
Loss on Agency Securities, trading, net	348,646,000	52,665,000	946,666,000
Stock based compensation	3,241,000	3,201,000	3,696,000
Changes in operating assets and liabilities:
Increase in accrued interest receivable	(5,873,000)	(18,474,000)	(17,734,000)
(Increase) decrease in prepaid and other assets	(159,000)	841,000	(1,007,000)
Change in derivatives, at fair value	(34,402,000)	99,064,000	(783,267,000)
Increase in accrued interest payable- repurchase agreements	5,581,000	7,413,000	18,152,000
(Decrease) increase in accrued interest payable- U.S. Treasury Securities sold short	(1,248,000)	1,631,000	3,418,000
(Decrease) increase in accounts payable and other accrued expenses	(1,986,000)	315,000	3,677,000
Net cash and cash equivalents and cash collateral posted to counterparties provided by operating activities	261,459,000	132,816,000	124,085,000
Cash Flows Provided By (Used In) Investing Activities:
Purchases of Agency Securities (including $0, $57,039 and $203,147 with BUCKLER, respectively)	(7,338,995,000)	(10,288,661,000)	(11,456,994,000)
Principal repayments of Agency Securities	1,053,625,000	803,158,000	573,609,000
Proceeds from sales of Agency Securities	4,589,515,000	6,290,592,000	6,349,056,000
Disbursements on reverse repurchase agreements (including $(4,643,450), $(2,774,490) and $(1,958,460), respectively with BUCKLER)	(5,829,200,000)	(2,774,490,000)	(1,958,460,000)
Receipts from reverse repurchase agreements (including $4,550,325, $3,124,829 and $1,254,184, respectively with BUCKLER)	5,684,888,000	3,124,829,000	1,254,184,000
Increase (decrease) in cash collateral posted by counterparties	(26,273,000)	(103,461,000)	792,531,000
Proceeds from subordinated loan due to BUCKLER	0	105,000,000	0
Net cash and cash equivalents and cash collateral posted to counterparties used in investing activities	(1,685,678,000)	(3,038,640,000)	(3,894,975,000)
Cash Flows Provided By (Used In) Financing Activities:
Issuance of common stock, net of expenses	265,660,000	450,117,000	475,537,000
Proceeds from repurchase agreements (including $59,055,222, $69,806,936 and $47,627,748, respectively with BUCKLER)	105,402,159,000	119,704,734,000	80,087,456,000
Principal repayments on repurchase agreements (including $(58,734,577), $(68,737,266) and $(45,639,677), respectively with BUCKLER)	(104,191,999,000)	(116,870,149,000)	(76,868,159,000)
Common stock dividends paid	(150,950,000)	(216,193,000)	(142,424,000)
Common stock repurchased, net	(1,344,000)	(9,935,000)	(7,664,000)
Net cash and cash equivalents and cash collateral posted to counterparties provided by financing activities	1,311,544,000	3,046,592,000	3,532,764,000
Net increase (decrease) in cash and cash equivalents and cash collateral posted to counterparties	(112,675,000)	140,768,000	(238,126,000)
Cash and cash equivalents and cash collateral posted to counterparties - beginning of year	258,858,000	118,090,000	356,216,000
Cash and cash equivalents and cash collateral posted to counterparties - end of year	146,183,000	258,858,000	118,090,000
Supplemental Disclosure:
Cash paid during the year for interest	686,182,000	607,030,000	136,966,000
Noncash Investing and Financing
Payable for unsettled purchases	(103,509,000)	(171,513,000)	(353,436,000)
Net unrealized gain (loss) on available for sale Agency Securities	0	4,056,000	(130,135,000)
Series C Preferred Stock
Cash Flows Provided By (Used In) Financing Activities:
Series C Preferred stock dividends paid	(11,982,000)	(11,982,000)	(11,982,000)
US Treasury Securities
Adjustments to reconcile net loss to net cash and cash equivalents and cash collateral posted to counterparties provided by operating activities:
Net amortization of U.S. Treasury Securities	0	131,000	(1,879,000)
(Gain) Loss on U.S. Treasury Securities, net	(37,602,000)	43,093,000	152,268,000
Cash Flows Provided By (Used In) Investing Activities:
Purchases of trading securities	(869,257,000)	(1,465,748,000)	(4,820,464,000)
Proceeds from sales of U.S. Treasury Securities (including $0, $154,875 and $814,265 with BUCKLER, respectively)	$ 1,050,019,000	$ 1,270,141,000	$ 5,371,563,000

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Agency Securities Purchased	$ 7,338,995	$ 10,288,661	$ 11,456,994
Disbursements on reverse repurchase agreements	(5,829,200)	(2,774,490)	(1,958,460)
Receipts from reverse repurchase agreements	5,684,888	3,124,829	1,254,184
Proceeds from repurchase agreements	105,402,159	119,704,734	80,087,456
Principal repayments on repurchase agreements	(104,191,999)	(116,870,149)	(76,868,159)
US Treasury Securities
Purchases of U.S. Treasury Securities (including $0, $155,857 and $593,162 with BUCKLER, respectively)	869,257	1,465,748	4,820,464
Proceeds from sales of U.S. Treasury Securities (including $0, $154,875 and $814,265 with BUCKLER, respectively)	1,050,019	1,270,141	5,371,563
BUCKLER Securities, LLC | Related Party
Agency Securities Purchased	0	57,039	203,147
Disbursements on reverse repurchase agreements	(4,643,450)	(2,774,490)	(1,958,460)
Receipts from reverse repurchase agreements	4,550,325	3,124,829	1,254,184
Proceeds from repurchase agreements	59,055,222	69,806,936	47,627,748
Principal repayments on repurchase agreements	(58,734,577)	(68,737,266)	(45,639,677)
BUCKLER Securities, LLC | US Treasury Securities | Related Party
Purchases of U.S. Treasury Securities (including $0, $155,857 and $593,162 with BUCKLER, respectively)	0	155,857	593,162
Proceeds from sales of U.S. Treasury Securities (including $0, $154,875 and $814,265 with BUCKLER, respectively)	$ 0	$ 154,875	$ 814,265

Organization and Nature of Busi

Organization and Nature of Business Operations	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business Operations	Note 1 - Organization and Nature of Business Operations References to “we,” “us,” “our,” or the “Company” are to ARMOUR Residential REIT, Inc. (“ARMOUR”) and its subsidiaries. References to “ACM” are to ARMOUR Capital Management LP, a Delaware limited partnership. ARMOUR owns a 10.8% equity interest in BUCKLER Securities LLC ("BUCKLER"). BUCKLER is a Delaware limited liability company and a FINRA-regulated broker-dealer, controlled by ACM. Refer to the Glossary of Terms for definitions of capitalized terms and abbreviations used in this report. U.S. dollar amounts are presented in thousands, except per share amounts or as otherwise noted. ARMOUR is an externally managed Maryland corporation incorporated in 2008. The Company is managed by ACM, an investment advisor registered with the SEC (see Note 9 - Commitments and Contingencies and Note 15 - Related Party Transactions). We have elected to be taxed as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code"). Our qualification as a REIT depends on our ability to meet, on a continuing basis, various complex requirements under the Code relating to, among other things, the sources of our gross income, the composition and values of our assets, our distribution levels and the concentration of ownership of our capital stock. We believe that we are organized in conformity with the requirements for qualification as a REIT under the Code and our manner of operations enables us to meet the requirements for taxation as a REIT for federal income tax purposes. As a REIT, we will generally not be subject to federal income tax on the REIT taxable income that we currently distribute to our stockholders. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we will be subject to federal income tax at regular corporate rates. Even if we qualify as a REIT for U.S. federal income tax purposes, we may still be subject to some federal, state and local taxes on our income. At December 31, 2024 and December 31, 2023, we invested in mortgage backed securities ("MBS"), issued or guaranteed by a United States ("U.S.") Government-sponsored entity ("GSE"), such as the Federal National Mortgage Association ("Fannie Mae"), the Federal Home Loan Mortgage Corporation ("Freddie Mac"), or a government agency such as Government National Mortgage Administration ("Ginnie Mae") (collectively, "Agency Securities"). Our Agency Securities consist primarily of fixed rate loans. Our charter permits us to invest in MBS backed by fixed rate, hybrid adjustable rate and adjustable rate home loans as well as unsecured notes and bonds issued by GSEs, U.S. Treasuries and money market instruments.

Basis of Presentation and Conso

Basis of Presentation and Consolidation	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	Note 2 - Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”). The consolidated financial statements include the accounts of ARMOUR Residential REIT, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying consolidated financial statements include the valuation of MBS and derivative instruments. All per share amounts, common shares outstanding and stock-based compensation amounts for all periods presented reflect our one-for-five reverse stock split (the “Reverse Stock Split”), which was effective September 29, 2023. No other reclassifications have been made to previously reported amounts.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3 - Summary of Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents includes cash on deposit with financial institutions with original maturities of three months or less. We may maintain deposits in federally insured financial institutions in excess of federally insured limits. However, management believes we are not exposed to significant credit risk due to the financial position and creditworthiness of the depository institutions in which those deposits are held. Cash Collateral Posted To/By Counterparties Cash collateral posted to/by counterparties represents cash posted by us to counterparties or posted by counterparties to us as collateral. Cash collateral posted to/by counterparties may include collateral for interest rate swap contracts, interest rate swaptions, basis swap contracts, futures contracts, repurchase agreements on our MBS and our Agency Securities purchased or sold on a to-be-announced basis ("TBA Agency Securities"). The interest earned or paid on cash collateral posted to/by counterparties is recorded in gain on derivatives, net in the consolidated statements of operations and comprehensive income (loss). Investments in Securities, at Fair Value Our investments in securities are generally classified as either available for sale or trading securities. Management determines the appropriate classifications of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. Trading Securities are reported at their estimated fair values with gains and losses included in Other Income (Loss) as a component of the consolidated statements of operations and comprehensive income (loss). Available for Sale Securities represented investments that we intended to hold for extended periods of time and were reported at their estimated fair values with unrealized gains and losses excluded from earnings and reported as part of comprehensive income (loss). During the first quarter of 2023, we sold the remaining balance of our Available for Sale Securities which resulted in a realized loss of $7,471. Receivables and Payables for Unsettled Sales and Purchases We account for purchases and sales of securities on the trade date based on the specific identification method, including purchases and sales for forward settlement. Receivables and payables for unsettled trades represent the agreed trade price multiplied by the outstanding balance of the securities at the balance sheet date. Accrued Interest Receivable and Payable Accrued interest receivable includes interest accrued between payment dates on securities and interest on unsettled sales of securities. Accrued interest payable includes interest on unsettled purchases of securities and interest on repurchase agreements, net. At certain times, we may have interest payable on U.S. Treasury Securities sold short. Repurchase Agreements, net We finance the acquisition of the majority of our MBS through the use of repurchase agreements. Our repurchase agreements are secured by our MBS and bear interest rates that have moved in close relationship to the Federal Funds Effective Rate ("Federal Funds Rate") and the Secured Overnight Funding Rate ("SOFR"). Under these repurchase agreements, we sell MBS to a lender and agree to repurchase the same MBS in the future for a price that is higher than the original sales price. The difference between the sales price that we receive and the repurchase price that we pay represents interest paid to the lender, which accrues over the life of the repurchase agreement. A repurchase agreement operates as a financing arrangement under which we pledge our MBS as collateral to secure a loan which is equal in value to a specified percentage of the estimated fair value of the pledged collateral. We retain beneficial ownership of the pledged collateral. At the maturity of a repurchase agreement, we are required to repay the loan and concurrently receive back our pledged collateral from the lender or, with the consent of the lender, we may renew such agreement at the then prevailing interest rate. The repurchase agreements may require us to pledge additional assets to the lender in the event the estimated fair value of the existing pledged collateral declines or take back certain pledged collateral if values increase. In addition to the repurchase agreement financing discussed above, at certain times, we have entered into reverse repurchase agreements with certain of our repurchase agreement counterparties. Under a typical reverse repurchase agreement, we purchase U.S. Treasury Securities from a borrower in exchange for cash and agree to sell the same securities in the future in exchange for a price that is higher than the original purchase price. The difference between the purchase price originally paid and the sale price represents interest received from the borrower. Reverse repurchase agreement receivables and repurchase agreement liabilities are presented net when they meet certain criteria, including being with the same counterparty, being governed by the same master repurchase agreement ("MRA"), settlement through the same brokerage or clearing account and maturing on the same day. At December 31, 2024 and December 31, 2023, we had $498,250 ($447,063 of which were with BUCKLER) and $353,937 (all of which were with BUCKLER), respectively, in reverse repurchase agreements which are recorded in repurchase agreements, net on our consolidated balance sheet. Obligations to Return Securities Received as Collateral, at Fair Value We also sell to third parties the U.S. Treasury Securities received as collateral for reverse repurchase agreements and recognize the resulting obligation to return said U.S. Treasury Securities as a liability on our consolidated balance sheet. Interest is recorded on the repurchase agreements, reverse repurchase agreements and U.S. Treasury Securities on an accrual basis and presented as net interest expense. Both parties to the transaction have the right to make daily margin calls based on changes in the fair value of the collateral received and/or pledged. At December 31, 2024 and December 31, 2023 we had obligations to return securities received as collateral associated with our reverse repurchase agreements of $493,433 and $350,273, respectively. Derivatives, at Fair Value We recognize all derivatives individually as either assets or liabilities at fair value on our consolidated balance sheets. All changes in the fair values of our derivatives are reflected in our consolidated statements of operations and comprehensive income (loss). We designate derivatives as hedges for tax purposes and any unrealized derivative gains or losses would not affect our distributable net taxable income. These transactions may include interest rate swap contracts, interest rate swaptions, basis swap contracts and futures contracts. We also may utilize forward contracts for the purchase or sale of TBA Agency Securities. We account for TBA Agency Securities as derivative instruments if it is reasonably possible that we will not take or make physical delivery of the Agency Security upon settlement of the contract. We account for TBA dollar roll transactions as a series of derivative transactions. We may also purchase and sell TBA Agency Securities as a means of investing in and financing Agency Securities (thereby increasing our “at risk” leverage) or as a means of disposing of or reducing our exposure to Agency Securities (thereby reducing our “at risk” leverage). We agree to purchase or sell, for future delivery, Agency Securities with certain principal and interest terms and certain types of collateral, but the particular Agency Securities to be delivered are not identified until shortly before the TBA settlement date. We may also choose, prior to settlement, to move the settlement of these securities out to a later date by entering into an offsetting short or long position (referred to as a “pair off”), net settling the paired off positions for cash, and simultaneously purchasing or selling a similar TBA Agency Security for a later settlement date. This transaction is commonly referred to as a “dollar roll.” When it is reasonably possible that we will pair off a TBA Agency Security, we account for that contract as a derivative. Revenue Recognition Interest income is earned and recognized on Agency Securities based on their unpaid principal amounts and their contractual terms. We record interest payable for interest received on securities sold during the period between the trade date and settlement date and interest receivable for purchases during the period between the trade date and settlement date. Premiums and discounts associated with the purchase of Multi-Family MBS, which are generally not subject to prepayment, are amortized or accreted into interest income over the contractual lives of the securities using a level yield method. Premiums and discounts associated with the purchase of other Agency Securities are amortized or accreted into interest income over the actual lives of the securities, reflecting actual prepayments as they occur. Purchase and sale transactions (including TBA Agency Securities) are recorded on the trade date, based on the specific identification method, to the extent it is probable that we will take or make timely physical delivery of the related securities. Gains or losses realized from sales of available for sale securities are reclassified into income from Comprehensive Income (Loss) and are determined using the specific identification method. Interest income on U.S. Treasury Securities is recognized based on their unpaid principal amounts and their contractual terms. Recognition of interest income commences on the settlement date of the purchase transaction and continues through the settlement date of the sale transaction. Comprehensive Income (Loss)

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 4 - Recent Accounting Pronouncements

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 5 - Fair Value of Financial Instruments Our valuation techniques for financial instruments use observable and unobservable inputs. Observable inputs reflect readily obtainable data from third-party sources, while unobservable inputs reflect management’s market assumptions. The Accounting Standards Codification Topic No. 820, "Fair Value Measurement," classifies these inputs into the following hierarchy: Level 1 Inputs - Quoted prices for identical instruments in active markets. Level 2 Inputs - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 Inputs - Prices determined using significant unobservable inputs. Unobservable inputs may be used in situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period). Unobservable inputs reflect management’s assumptions about the factors that market participants would use in pricing an asset or liability and would be based on the best information available. The fair value of financial instruments is the amount received to sell an asset or the amount paid to transfer the liability in a transaction between willing market participants on the measurement date. At the beginning of each period, we assess the assets and liabilities that are measured at fair value on a recurring basis to determine if any transfers between levels in the fair value hierarchy are needed. The following describes the valuation methodologies used for our assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy. Any transfers between levels are assumed to occur at the beginning of the reporting period. Investment in Securities Fair value for our investments in securities are based on obtaining a valuation for each security from third-party pricing services and/or dealer quotes. The third-party pricing services use common market pricing methods that may include pricing models that may incorporate such factors as coupons, prepayment speeds, spread to the Treasury curves and interest rate swap curves, duration, periodic and life caps and credit enhancement. If the fair value of a security is not available from the third-party pricing services or such data appears unreliable, we obtain pricing indications from up to three dealers who make markets in similar securities. Management reviews pricing used to ensure that current market conditions are properly reflected. This review includes, but is not limited to, comparisons of similar market transactions or alternative third-party pricing services, dealer pricing indications and comparisons to a third-party pricing model. Fair values obtained from the third-party pricing services for similar instruments are classified as Level 2 securities if the inputs to the pricing models used are consistent with the Level 2 definition. If quoted prices for a security are not reasonably available from the third-party pricing service, but dealer pricing indications are, the security will be classified as a Level 2 security. If neither is available, management will determine the fair value based on characteristics of the security that we receive from the issuer and based on available market information and classify it as a Level 3 security. U.S. Treasury Securities are classified as Level 1, as quoted unadjusted prices are available in active markets for identical assets. Derivatives The fair values of our interest rate swap contracts, interest rate swaptions and basis swap contracts are valued using information provided by third-party pricing services that incorporate common market pricing methods that may include current interest rate curves, forward interest rate curves and market spreads to interest rate curves and are classified as Level 2. We estimate the fair value of TBA Agency Securities based on similar methods used to value our Agency Securities and they are classified as Level 2. Management compares the pricing information received to dealer quotes to ensure that the current market conditions are properly reflected. Futures contracts are traded on the Chicago Mercantile Exchange ("CME") which requires the use of daily mark-to-market collateral and they are classified as Level 1. The following tables provide a summary of our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2024 and December 31, 2023. December 31, 2024 Level 1 Level 2 Level 3 Balance Assets at Fair Value: Agency Securities $ — $ 12,439,414 $ — $ 12,439,414 Derivatives $ 13,300 $ 894,763 $ — $ 908,063 Liabilities at Fair Value: Obligations to return securities as collateral $ — $ 493,433 $ — $ 493,433 Derivatives $ 328 $ 957 $ — $ 1,285 December 31, 2023 Level 1 Level 2 Level 3 Balance Assets at Fair Value: Agency Securities $ — $ 11,159,754 $ — $ 11,159,754 Derivatives $ — $ 877,412 $ — $ 877,412 Liabilities at Fair Value: Obligations to return securities as collateral $ — $ 350,273 $ — $ 350,273 Derivatives $ — $ 5,036 $ — $ 5,036 There were no transfers of assets or liabilities between the levels of the fair value hierarchy during the year ended December 31, 2024 or for the year ended December 31, 2023. Excluded from the tables above are financial instruments, including cash and cash equivalents, cash collateral posted to/by counterparties, receivables, payables and borrowings under repurchase agreements, net, which are presented in our consolidated financial statements at cost, which approximates fair value. The estimated fair value of these instruments is measured using "Level 1" or "Level 2" inputs at December 31, 2024 and December 31, 2023.

Investments In Securities

Investments In Securities	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments in Securities	Note 6 - Investments in Securities As of December 31, 2024 and December 31, 2023, our securities portfolio consisted of $12,439,414 and $11,159,754 of investment securities, at fair value, respectively. We also had $0 and $305,039 of TBA Agency Securities, at fair value, which were reported at net carrying value of $(908) and $1,816, respectively, at December 31, 2024 and December 31, 2023. TBA Securities are reported in Derivatives, at fair value on our consolidated balance sheets (see Note 8 - Derivatives). The net carrying value of our TBA Agency Securities represents the difference between the fair value of the underlying Agency Security in the TBA contract and the cost basis or the forward price to be paid or received for the underlying Agency Security. During the first quarter of 2023, we sold the remaining balance of our Available for Sale Securities which resulted in a realized loss of $(7,471). The tables below present the components of the carrying value and the unrealized gain or loss position of our investments in securities at December 31, 2024 and December 31, 2023. December 31, 2024 Principal Amount Amortized Cost Gross Unrealized Loss Gross Unrealized Gain Fair Value Agency Securities, trading $ 12,957,039 $ 12,806,504 $ (370,044) $ 2,954 $ 12,439,414 December 31, 2023 Agency Securities, trading $ 11,278,161 $ 11,283,380 $ (176,660) $ 53,034 $ 11,159,754 The following tables summarize the weighted average lives of our investments in securities at December 31, 2024 and December 31, 2023. December 31, 2024 December 31, 2023 Weighted Average Life Fair Value Amortized Cost Fair Value Amortized Cost < 1 year $ — $ — $ — $ — ≥ 1 year and < 3 years — — 202,508 195,904 ≥ 3 years and < 5 years 1,329,834 1,341,663 2,757,464 2,747,842 ≥ 5 years 11,109,580 11,464,841 8,199,782 8,339,634 Totals $ 12,439,414 $ 12,806,504 $ 11,159,754 $ 11,283,380 We use a third-party model to calculate the weighted average lives of our investments in securities. Weighted average life is calculated based on expectations for estimated prepayments for the underlying mortgage loans of our investments in securities. These estimated prepayments are based on assumptions such as interest rates, current and future home prices, housing policy and borrower incentives. The weighted average lives of our investments in securities at December 31, 2024 and December 31, 2023 in the tables above are based upon market factors, assumptions, models and estimates from the third-party model and also incorporate management’s judgment and experience. The actual weighted average lives of these securities could be longer or shorter than estimated.

Repurchase Agreements, net

Repurchase Agreements, net	12 Months Ended
	Dec. 31, 2024
Disclosure of Repurchase Agreements [Abstract]
Repurchase Agreements, net	30 days to ≤ 60 days 247,200 4.63 % 31 Total or Weighted Average $ 10,713,830 4.72 % 17 (1) Net of reverse repurchase agreements of $498,250 ($447,063 of which were with BUCKLER). Obligations to return securities received as collateral of $493,433 associated with the reverse repurchase agreements are all due within 30 days. December 31, 2023 Balance Weighted Average Contractual Rate Weighted Average Maturity in days Agency Securities ≤ 30 days (1) $ 9,647,982 5.54 % 12 Total or Weighted Average $ 9,647,982 5.54 % 12 (1) Net of reverse repurchase agreements of $353,937 (all of which were with BUCKLER). Obligations to return securities received as collateral of $350,273 associated with the reverse repurchase agreements all matured in January 2024. The following tables present information about the gross and net securities purchased and sold under our repurchase agreements, net on the accompanying consolidated balance sheets at December 31, 2024 and December 31, 2023. December 31, 2024 Gross Amounts Not Offset Gross Amounts Gross Amounts offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments (1) Cash Collateral Total Net Assets Reverse Repurchase Agreements $ 498,250 $ (498,250) $ — $ — $ — $ — Totals $ 498,250 $ (498,250) $ — $ — $ — $ — Liabilities Repurchase Agreements $ (11,212,080) $ 498,250 $ (10,713,830) $ 10,713,830 $ — $ — Totals $ (11,212,080) $ 498,250 $ (10,713,830) $ 10,713,830 $ — $ — December 31, 2023 Gross Amounts Not Offset Gross Amounts Gross Amounts offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments (1) Cash Collateral Total Net Assets Reverse Repurchase Agreements $ 353,937 $ (353,937) $ — $ — $ — $ — Totals $ 353,937 $ (353,937) $ — $ — $ — $ — Liabilities Repurchase Agreements $ (10,001,919) $ 353,937 $ (9,647,982) $ 9,647,982 $ — $ — Totals $ (10,001,919) $ 353,937 $ (9,647,982) $ 9,647,982 $ — $ — (1) The fair value of securities pledged against our repurchase agreements was $11,796,858 and $10,599,340 at December 31, 2024 and December 31, 2023, respectively. Our repurchase agreements require that we maintain adequate pledged collateral. A decline in the value of the MBS pledged as collateral for borrowings under repurchase agreements could result in the counterparties demanding additional collateral pledges or liquidation of some of the existing collateral to reduce borrowing levels. We manage this risk by maintaining an adequate balance of available cash and unpledged securities. An event of default or termination event under the standard MRA would give our counterparty the option to terminate all repurchase transactions existing with us and require any amount due to be payable immediately. In addition, certain of our MRAs contain a restriction that prohibits our leverage from exceeding twelve times our stockholders’ equity as well as termination events in the case of significant reductions in equity capital. We also may receive cash or securities as collateral from our derivative counterparties which we may use as additional collateral for repurchase agreements. Certain interest rate swap contracts provide for cross collateralization and cross default with repurchase agreements and other contracts with the same counterparty. At December 31, 2024 and December 31, 2023, BUCKLER accounted for 45.7% and 48.4%, respectively, of our aggregate borrowings and had an amount at risk of 8.0% and 8.1%, respectively, of our total stockholders' equity with a weighted average maturity of 15 days and 12 days, respectively, on repurchase agreements, net (see Note 15 - Related Party Transactions). In addition, at December 31, 2024, we had 3 repurchase agreement counterparties that individually accounted for over 5% of our aggregate borrowings. In total, these counterparties accounted for approximately 19.9% of our repurchase agreement borrowings outstanding at December 31, 2024. At December 31, 2023, we had 4 repurchase agreement counterparties that individually accounted for over 5% of our aggregate borrowings. In total, these counterparties accounted for 27.2% of our repurchase agreement borrowings at December 31, 2023." id="sjs-B4">Note 7 - Repurchase Agreements, net At December 31, 2024, we had active MRAs with 33 counterparties and had $10,713,830 in outstanding borrowings with 17 of those counterparties. At December 31, 2023, we had active MRAs with 39 counterparties and had $9,647,982 in outstanding borrowings with 14 of those counterparties. The following tables represent the contractual repricing regarding our repurchase agreements to finance MBS purchases at December 31, 2024 and December 31, 2023. Our repurchase agreements require excess collateral, known as a "haircut." At December 31, 2024, the average gross haircut percentage was 2.77% compared to 2.74% at December 31, 2023. The haircut for our repurchase agreements vary by counterparty and therefore, the changes in the average haircut percentage will vary with the changes in our counterparty repurchase agreement balances. December 31, 2024 Balance Weighted Average Contractual Rate Weighted Average Maturity in days Agency Securities ≤ 30 days (1) $ 10,466,630 4.72 % 17 > 30 days to ≤ 60 days 247,200 4.63 % 31 Total or Weighted Average $ 10,713,830 4.72 % 17 (1) Net of reverse repurchase agreements of $498,250 ($447,063 of which were with BUCKLER). Obligations to return securities received as collateral of $493,433 associated with the reverse repurchase agreements are all due within 30 days. December 31, 2023 Balance Weighted Average Contractual Rate Weighted Average Maturity in days Agency Securities ≤ 30 days (1) $ 9,647,982 5.54 % 12 Total or Weighted Average $ 9,647,982 5.54 % 12 (1) Net of reverse repurchase agreements of $353,937 (all of which were with BUCKLER). Obligations to return securities received as collateral of $350,273 associated with the reverse repurchase agreements all matured in January 2024. The following tables present information about the gross and net securities purchased and sold under our repurchase agreements, net on the accompanying consolidated balance sheets at December 31, 2024 and December 31, 2023. December 31, 2024 Gross Amounts Not Offset Gross Amounts Gross Amounts offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments (1) Cash Collateral Total Net Assets Reverse Repurchase Agreements $ 498,250 $ (498,250) $ — $ — $ — $ — Totals $ 498,250 $ (498,250) $ — $ — $ — $ — Liabilities Repurchase Agreements $ (11,212,080) $ 498,250 $ (10,713,830) $ 10,713,830 $ — $ — Totals $ (11,212,080) $ 498,250 $ (10,713,830) $ 10,713,830 $ — $ — December 31, 2023 Gross Amounts Not Offset Gross Amounts Gross Amounts offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments (1) Cash Collateral Total Net Assets Reverse Repurchase Agreements $ 353,937 $ (353,937) $ — $ — $ — $ — Totals $ 353,937 $ (353,937) $ — $ — $ — $ — Liabilities Repurchase Agreements $ (10,001,919) $ 353,937 $ (9,647,982) $ 9,647,982 $ — $ — Totals $ (10,001,919) $ 353,937 $ (9,647,982) $ 9,647,982 $ — $ — (1) The fair value of securities pledged against our repurchase agreements was $11,796,858 and $10,599,340 at December 31, 2024 and December 31, 2023, respectively. Our repurchase agreements require that we maintain adequate pledged collateral. A decline in the value of the MBS pledged as collateral for borrowings under repurchase agreements could result in the counterparties demanding additional collateral pledges or liquidation of some of the existing collateral to reduce borrowing levels. We manage this risk by maintaining an adequate balance of available cash and unpledged securities. An event of default or termination event under the standard MRA would give our counterparty the option to terminate all repurchase transactions existing with us and require any amount due to be payable immediately. In addition, certain of our MRAs contain a restriction that prohibits our leverage from exceeding twelve times our stockholders’ equity as well as termination events in the case of significant reductions in equity capital. We also may receive cash or securities as collateral from our derivative counterparties which we may use as additional collateral for repurchase agreements. Certain interest rate swap contracts provide for cross collateralization and cross default with repurchase agreements and other contracts with the same counterparty. At December 31, 2024 and December 31, 2023, BUCKLER accounted for 45.7% and 48.4%, respectively, of our aggregate borrowings and had an amount at risk of 8.0% and 8.1%, respectively, of our total stockholders' equity with a weighted average maturity of 15 days and 12 days, respectively, on repurchase agreements, net (see Note 15 - Related Party Transactions). In addition, at December 31, 2024, we had 3 repurchase agreement counterparties that individually accounted for over 5% of our aggregate borrowings. In total, these counterparties accounted for approximately 19.9% of our repurchase agreement borrowings outstanding at December 31, 2024. At December 31, 2023, we had 4 repurchase agreement counterparties that individually accounted for over 5% of our aggregate borrowings. In total, these counterparties accounted for 27.2% of our repurchase agreement borrowings at December 31, 2023.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Note 8 - Derivatives We enter into derivative transactions to manage our interest rate risk and agency mortgage rate exposures. We have agreements with our derivative counterparties that provide for the posting of collateral based on the fair values of our derivatives. Through this margin process, either we or our counterparties may be required to pledge cash or securities as collateral. Collateral requirements vary by counterparty and change over time based on the fair value, notional amount and remaining term of the contracts. Certain contracts provide for cross collateralization and cross default with repurchase agreements and other contracts with the same counterparty. Interest rate swap contracts are designed to lock in long-term average funding costs for repurchase agreements associated with our assets in an attempt to maximize earnings from our assets. Such transactions are based on assumptions about prepayments which, if not realized, will cause transaction results to differ from expectations. Interest rate swaptions generally provide us the option to enter into an interest rate swap agreement at a certain point of time in the future with a predetermined notional amount, stated term and stated rate of interest in the fixed leg and interest rate index on the floating leg. Basis swap contracts allow us to exchange one floating interest rate basis for another, thereby allowing us to diversify our floating rate basis exposures. All of our interest rate contracts have floating leg interest rate indexes of either the Federal Funds Rate or SOFR. The Federal Funds Rate is published daily by the New York Federal Reserve and is a measure of unsecured borrowings by depository institutions from other depository institutions or GSEs. SOFR is published daily by the New York Federal Reserve and is the average overnight rate for borrowings secured by U.S. Treasury securities. We enter into interest rate swap contracts either directly with a counterparty (a “bilateral” contract) or through a centrally-cleared swap contract. In a bilateral contract, we exchange margin collateral with the counterparty and have exposure to counterparty risk. In a centrally-cleared contract, we exchange margin collateral with a Futures Clearing Merchant, with whom we have opened an account. Our counterparty risk is limited to the clearing exchange itself. All of our centrally-cleared swaps are cleared by the CME. In general, centrally-cleared interest rate swap contracts require us to post higher initial margin than bilateral contracts. Futures contracts are traded on the CME which requires the use of daily mark-to-market collateral and the CME provides substantial credit support. The collateral requirements of the CME require us to pledge assets under a bi-lateral margin arrangement, including either cash or Agency Securities and these requirements may vary and change over time based on the market value, notional amount and remaining term of the futures contracts. In the event we are unable to meet a margin call under one of our futures contracts, the counterparty to such agreement may have the option to terminate or close-out all of the outstanding futures contracts with us. In addition, any close-out amount due to the counterparty upon termination of the counterparty’s transactions would be immediately payable by us pursuant to the applicable agreement. TBA Agency Securities are forward contracts for the purchase (“long position”) or sale (“short position”) of Agency Securities at a predetermined price, face amount, issuer, coupon and stated maturity on an agreed-upon future date. The specific Agency Securities delivered into the contract upon the settlement date, published each month by the Securities Industry and Financial Markets Association, are not known at the time of the transaction. We may enter into TBA Agency Securities as a means of hedging against short-term changes in interest rates. We may also enter into TBA Agency Securities as a means of acquiring or disposing of Agency Securities and we may from time to time utilize TBA dollar roll transactions to finance Agency Security purchases. We estimate the fair value of TBA Agency Securities based on similar methods used to value our Agency Securities. We have netting arrangements in place with all derivative counterparties pursuant to standard documentation developed by ISDA. We are also required to post or hold cash collateral based upon the net underlying market value of our open positions with the counterparty. A decline in the value of the open positions with the counterparty could result in the counterparties demanding additional collateral pledges or liquidation of some of the existing collateral to reduce borrowing levels. We manage this risk by maintaining an adequate balance of available cash and unpledged securities. An event of default or termination event under the standard ISDA would give our counterparty to the applicable agreement the right to terminate the agreement. In addition, certain of our ISDAs contain a restriction that prohibits our leverage from exceeding twelve times our stockholders’ equity as well as termination events in the case of significant reductions in equity capital. The following tables present information about the potential effects of netting our derivatives if we were to offset the assets and liabilities on the accompanying consolidated balance sheets. We currently present these financial instruments at their gross amounts and they are included in Derivatives, at fair value on the accompanying consolidated balance sheets at December 31, 2024 and December 31, 2023. Amounts Not Offset Assets Gross Amounts (1) Financial Cash Collateral Total Net December 31, 2024 Interest rate swap contracts (2) $ 894,714 $ — $ (781,923) $ 112,791 Futures contracts 13,300 (328) 24,702 37,674 TBA Agency Securities 49 (957) 1,578 670 Totals $ 908,063 $ (1,285) $ (755,643) $ 151,135 December 31, 2023 Interest rate swap contracts (2) $ 875,596 $ (5,036) $ (821,089) $ 49,471 TBA Agency Securities 1,816 (1,816) — — Totals $ 877,412 $ (6,852) $ (821,089) $ 49,471 (1) See Note 5 - Fair Value of Financial Instruments for additional discussion. (2) Includes $47,045 and $6,104 of centrally-cleared interest rate swap contracts, respectively. Amounts Not Offset Liabilities Gross Amounts (1) Financial Cash Collateral Total Net December 31, 2024 Futures contracts $ (328) $ 328 $ — $ — TBA Agency Securities (957) 957 — — Totals $ (1,285) $ 1,285 $ — $ — December 31, 2023 Interest rate swap contracts (2) $ (5,036) $ 5,036 $ — $ — TBA Agency Securities — 1,816 (2,070) (254) Totals $ (5,036) $ 6,852 $ (2,070) $ (254) (1) See Note 5 - Fair Value of Financial Instruments for additional discussion. (2) Includes $(5,036) of centrally-cleared interest rate swap contracts. The following table represents the information regarding our derivatives which are included in Gain on derivatives, net in the accompanying consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. Income (Loss) Recognized For the Years Ended Derivatives December 31, 2024 December 31, 2023 December 31, 2022 Interest rate swap contracts (1) $ 245,537 $ 58,300 $ 852,913 Futures contracts 21,569 (30,645) 95,509 TBA Agency Securities 56,394 24,093 (137,614) Total Gain on Derivatives, net $ 323,500 $ 51,748 $ 810,808 (1) Includes $42,102 and $36,547 of centrally-cleared interest rate swap contracts, entered into for the year ended December 31, 2024 and December 31, 2023, respectively. The following tables present information about our derivatives at December 31, 2024 and December 31, 2023. We did not have any TBA Agency Securities at December 31, 2024. Interest Rate Swap Contracts (1) Notional Amount Weighted Average Remaining Term (Months) Weighted Average Rate December 31, 2024 < 3 years $ 1,255,000 24 0.60 % ≥ 3 years and < 5 years 604,000 58 0.49 % ≥ 5 years and < 7 years 2,648,000 71 0.85 % ≥ 7 years 2,725,000 108 3.20 % Total or Weighted Average (2) $ 7,232,000 76 1.66 % December 31, 2023 < 3 years $ 1,102,000 18 1.60 % ≥ 3 years and < 5 years 1,207,000 45 2.06 % ≥ 5 years and < 7 years 1,952,000 75 0.58 % ≥ 7 years 2,525,000 95 1.56 % Total or Weighted Average (3) $ 6,786,000 68 1.37 % (1) Pay Fixed/Receive Variable. (2) Of this amount, $2,225,000 notional are SOFR based swaps, the last of which matures in 2034; and $5,007,000 notional are Federal Funds Rate based swaps, the last of which matures in 2032. Of this amount, $2,025,000 notional are centrally-cleared interest rate swap contracts, the last of which matures in 2034. (3) Of this amount, $1,475,000 notional are SOFR based swaps, the last of which matures in 2033; and $5,311,000 notional are Federal Funds Rate based swaps, the last of which matures in 2032. Of this amount, $1,275,000 notional are centrally-cleared interest rate swap contracts, the last of which matures in 2033. TBA Agency Securities Notional Amount Cost Basis Fair Value December 31, 2023 30 Year Long, 6.0% 300,000 303,223 305,039 Total $ 300,000 $ 303,223 $ 305,039

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9 - Commitments and Contingencies Management The Company is managed by ACM, pursuant to a management agreement (see also Note 15, “Related Party Transactions”). The management agreement entitles ACM to receive a management fee payable monthly in arrears. Currently, the monthly management fee is 1/12th of the sum of (a) 1.5% of gross equity raised up to $1.0 billion plus (b) 0.75% of gross equity raised in excess of $1.0 billion. Gross equity raised includes the total amounts of paid in capital relating to both our common and preferred stock, before deduction of brokerage commissions and other costs of capital raising. Amounts paid to stockholders to repurchase stock, before deduction of brokerage commissions and costs, reduces gross equity raised. Dividends specifically designated by the Board as liquidation dividends will reduce the amount of gross equity raised. To date, the Board has not so designated any of the dividends paid by the Company. Realized and unrealized gains and losses do not affect the amount of gross equity raised. At December 31, 2024, December 31, 2023 and December 31, 2022, the effective management fee was 0.92%, 0.93% and 0.95% prior to management fees waived, and 0.77%, 0.77% and 0.74%, after management fees waived, based on gross equity raised of $4,498,880, $4,231,965 and $3,787,042, respectively. During the years ended December 31, 2024, December 31, 2023 and December 31, 2022 ACM voluntarily waived management fees of $6,600, $6,600 and $7,800 respectively. ACM is currently waiving $550 per month of its contractual management fee until ACM provides further notice to ARMOUR. The monthly management fees are not calculated based on the performance of our assets. Accordingly, the payment of our monthly management fees may not decline in the event of a decline in our earnings and may cause us to incur losses. We are also responsible for any costs and expenses that ACM incurs solely on our behalf other than the various overhead expenses specified in the terms of the management agreement. ACM may terminate this waiver by providing notice to ARMOUR on or before the 25th day of the preceding month. This waiver does not constitute a waiver of any other amounts due to ACM from ARMOUR under the management agreement or otherwise, including but not limited to any expense reimbursements, any amounts calculated by reference to the contractual Base Management Fee, or any awards under the 2009 Stock Incentive Plan as amended (the “Plan”). On February 14, 2023, the Company extended the contractual term of the management agreement through December 31, 2029. Based on the management fee base, gross equity raised, as of December 31, 2024, the Company’s contractual management fee commitments, prior to management fees waived, are: Year Contractual Management Fee 2025 $ 41,242 2026 41,242 2027 41,242 2028 41,242 2029 41,242 Total $ 206,210 The Company cannot voluntarily terminate the management agreement without cause before the expiration of its contractual term. If the management agreement is terminated in connection with a liquidation of the Company or certain business combination transactions, the Company is obliged to pay ACM a termination fee equal to 4 times the contractual management fee (before any waiver) for the preceding 12 months. Indemnifications and Litigation We enter into certain contracts that contain a variety of indemnifications, principally with ACM and underwriters, against third-party claims for errors and omissions in connection with their services to us. We have not incurred any costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the estimated fair value of these agreements, as well as the maximum amount attributable to past events, is not material. Accordingly, we have no liabilities recorded for these agreements at December 31, 2024 and December 31, 2023. Nine putative class action lawsuits were filed in connection with the tender offer and merger for JAVELIN alleging, among other things, breach of fiduciary duties and seeking equitable relief, including, among other relief, to enjoin consummation of the transactions, or rescind or unwind the transactions if already consummated, and award costs and disbursements, including reasonable attorneys' fees and expenses. The sole Florida lawsuit was never served on the defendants, and that case was voluntarily dismissed and closed on January 20, 2017. On April 25, 2016, the Maryland court issued an order consolidating the eight Maryland cases into one action, captioned In re JAVELIN Mortgage Investment Corp. Shareholder Litigation (Case No. 24-C-16-001542), and designated counsel for one of the Maryland cases as interim lead co-counsel. On May 26, 2016, interim lead counsel filed the Consolidated Amended Class Action Complaint for Breach of Fiduciary Duty asserting consolidated claims of breach of fiduciary duty, aiding and abetting the breaches of fiduciary duty, and waste. On June 27, 2016, defendants filed a Motion to Dismiss the Consolidated Amended Class Action Complaint for failing to state a claim upon which relief can be granted. A hearing was held on the Motion to Dismiss on March 3, 2017, and the Court reserved ruling. The Court deferred ruling on the Motion to Dismiss several times. On February 14, 2024, the Court issued an order granting defendants’ Motion to Dismiss, and dismissed all of plaintiffs’ claims with prejudice, and without leave to amend. On March 11, 2024, plaintiffs filed a Notice of Appeal of the Court's order of dismissal. On July 3, 2024, plaintiffs filed a voluntary notice of dismissal of the previously filed appeal.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	Note 10 - Stock Based Compensation We adopted the Plan to attract, retain and reward directors and other persons who provide services to us in the course of operations. The Plan authorizes the Board to grant awards including common stock, restricted shares of common stock (“RSUs”), stock options, performance shares, performance units, stock appreciation rights and other equity and cash-based awards (collectively, “Awards”), subject to terms as provided in the Plan. At December 31, 2024, there were 228 shares available for future issuance under the Plan. Transactions related to awards for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 are summarized below: For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Number of Awards Weighted Number of Awards Weighted Number of Awards Weighted Unvested RSU Awards Outstanding beginning of period 298 $ 38.21 114 $ 64.40 165 $ 70.35 Granted (1) — $ — 260 $ 29.65 — $ — Vested (73) $ 48.90 (76) $ 48.24 (51) $ 83.60 Forfeited (55) $ 29.65 — $ — — $ — Unvested RSU Awards Outstanding end of period 170 $ 36.38 298 $ 38.21 114 $ 64.40 (1) During the year ended December 31, 2023, 196 RSUs were granted to certain officers of ARMOUR and 64 RSUs were granted to the Board. At December 31, 2024, there was approximately $6,185 of unvested stock based compensation related to the Awards (based on a weighted grant date price of $36.38 per share), which we expect to recognize as an expense as follows: in 2025 an expense of $1,987, in 2026 an expense of $1,793, and thereafter an expense of $2,405. Our policy is to account for forfeitures as they occur. We also pay each of our non-executive Board members quarterly fees of $33, which are payable in cash, common stock, RSUs or a combination of common stock, RSUs and cash at the option of the director. Non-executive Board members have the option to participate in the Company's Non-Management Director Compensation and Deferral Program (the "Deferral Program"). The

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Note 11 - Stockholders' Equity The following table presents the components of cumulative distributions to stockholders at December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended Cumulative Distributions to Stockholders December 31, 2024 December 31, 2023 December 31, 2022 Preferred dividends $ 168,791 $ 156,809 $ 144,827 Common stock dividends 2,214,748 2,063,758 1,847,534 Total $ 2,383,539 $ 2,220,567 $ 1,992,361 Preferred Stock At December 31, 2024 and December 31, 2023, we were authorized to issue up to 50,000 shares of preferred stock, par value $0.001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by our Board of Directors (“Board”) or a committee thereof. On January 28, 2020, we filed Articles Supplementary with the State Department of Assessments and Taxation of the State of Maryland to designate 10,000 shares of the Company’s authorized preferred stock, par value $0.001 per share, as shares of 7.00% Series C Preferred Stock with the powers, designations, preferences and other rights as set forth therein. At December 31, 2024, a total of 40,000 shares of our authorized preferred stock remained available for designation as future series. At December 31, 2024 and December 31, 2023, we had 6,847 shares of Series C Preferred Stock issued and outstanding with a par value of $0.001 per share and a liquidation preference of $25.00 per share, or $171,175 in the aggregate. At December 31, 2024 and December 31, 2023, there were no accrued or unpaid dividends on the Series C Preferred Stock. Shares designated as Series C Preferred Stock but unissued totaled 3,153 at December 31, 2024. On January 29, 2020, the Company entered into an Equity Sales Agreement (the “Preferred C ATM Sales Agreement”) with B. Riley Securities, Inc. (formerly B. Riley FBR, Inc.) and BUCKLER, as sales agents (individually and collectively, the “Agents"), and ACM, pursuant to which the Company may offer and sell, over a period of time and from time to time, through one or more of the Agents, as the Company’s agents, up to 6,550 of Series C Preferred Stock. The Preferred C ATM Sales Agreement relates to a proposed “at-the-market” offering program. Under the Preferred C ATM Sales Agreement, we will pay the agent designated to sell our shares an aggregate commission of up to 2.0% of the gross sales price per share of our preferred stock sold through the designated agent under the Preferred C ATM Sales Agreement. On June 20, 2024, the Preferred C ATM Sales Agreement was amended to add BTIG, LLC, as a sales agent. We did not sell any shares under the Preferred C ATM Sales Agreement during the years ended December 31, 2024, December 31, 2023 or December 31, 2022. In the first quarter of 2025, through January 23, 2025, we sold 17 shares under this agreement for proceeds of $362, net of issuance costs and commissions of approximately $23. Preferred Stock Repurchase Program On July 26, 2022, the Board authorized a repurchase program of up to an aggregate of 2,000 shares of the Company’s outstanding Series C Preferred Stock ("Series C Preferred Stock Repurchase Program"). Under the Series C Preferred Stock Repurchase Program, shares may be purchased in the open market, including block trades, through privately negotiated transactions, or pursuant to a trading plan separately adopted in the future. The timing, manner, price and amount of any repurchases will be at our discretion, in consultation with the Pricing Committee of the Board, subject to the requirements of the Exchange Act and related rules. We are not required to repurchase any shares under the Series C Preferred Stock Repurchase Program and it may be modified, suspended or terminated at any time for any reason. We do not intend to purchase shares from our Board or other affiliates. Under Maryland law, such repurchased shares are treated as authorized but unissued. We did not repurchase any shares under the Series C Preferred Stock Repurchase Program during the years ended December 31, 2024, December 31, 2023 or December 31, 2022. Common Stock At December 31, 2024 and December 31, 2023, we were authorized to issue up to 125,000 and 90,000 shares of common stock, par value $0.001 per share, respectively, with such designations, voting and other rights and preferences as may be determined from time to time by our Board. We had 62,412 and 48,799 shares of common stock issued and outstanding at December 31, 2024 and December 31, 2023, respectively. On May 14, 2021, we entered into a new Equity Sales Agreement (the “2021 Common stock ATM Sales Agreement”) with BUCKLER, JMP Securities LLC, Ladenburg Thalmann & Co. Inc. and B. Riley Securities, Inc., as sales agents, relating to the shares of our common stock. In accordance with the terms of the 2021 Common Stock ATM Sales agreement, we could offer and sell over a period of time and from time to time, up to 3,400 shares of our common stock, par value $0.001 per share. On November 12, 2021, the 2021 Common stock ATM Sales Agreement was amended to add JonesTrading Institutional Services LLC, as a sales agent and to offer an additional 5,000 shares available for sale pursuant to the terms of the 2021 Common stock ATM Sales Agreement. On June 9, 2022, the 2021 Common stock ATM Sales Agreement was further amended to offer an additional 5,760 shares available for sale. On November 4, 2022, the Common stock ATM Sales Agreement was further amended to offer an additional 7,000 shares available for sale. On January 17, 2023, it was amended to add an additional 9,736 shares pursuant to the terms of the 2021 Common stock ATM Sales Agreement. The 2021 Common stock ATM Sales Agreement related to an "at-the-market" offering program. The 2021 Common stock ATM Sales Agreement provided that we would pay the agent designated to sell our shares an aggregate commission of up to 2.0% of the gross sales price per share of our common stock sold through the designated agent under the 2021 Common stock ATM Sales Agreement. From January 2023 through July 2023, we sold 13,305 shares under this agreement for proceeds of $367,997, net of issuance costs and commissions of approximately $3,725. Those sales fully utilized the shares allocated to the 2021 Common stock ATM Sales Agreement, which has been completed. On July 26, 2023 we entered into a new Equity Sales Agreement (the “2023 Common stock ATM Sales Agreement”), with BUCKLER, JonesTrading Institutional Services LLC, Citizens JMP Securities, LLC (formerly JMP Securities LLC), Ladenburg Thalmann & Co. Inc. and B. Riley Securities, Inc., as sales agents, relating to the shares of our common stock. In accordance with the terms of the 2023 Common Stock ATM Sales agreement, we may offer and sell over a period of time and from time to time, up to 15,000 shares of our common stock, par value $0.001 per share. On October 25, 2023, the 2023 Common stock ATM Sales Agreement was amended to add StockBlock Securities LLC, as a sales agent and on June 20, 2024 it was further amended to add BTIG, LLC as a sales agent. On August 23, 2024, the 2023 Common stock ATM Sales Agreement was amended to increase by 25,000 the number of shares of our common stock that may be offered and sold under the 2023 Common stock ATM Sales Agreement. On September 20, 2024, the 2023 Common stock ATM Sales Agreement was further amended to add Janney Montgomery Scott LLC, as a sales agent. During the year ended December 31, 2024, we sold 13,619 shares under this agreement for proceeds of $265,614, net of issuance costs and commissions of approximately $2,545. During the year ended December 31, 2023, we sold 3,328 shares under this agreement for proceeds of $82,100, net of issuance costs and commissions of approximately $903. In the first quarter of 2025, through February 4, 2025, we sold 14,002 shares under this agreement for proceeds of $258,965, net of issuance costs and commissions of approximately $2,013 (see Note 15 - Related Party Transactions for discussion of additional transactions with BUCKLER). During the year ended December 31, 2024, we issued 5 common shares under our Common Stock Dividend Reinvestment Program ("DRIP") for net proceeds of $86. Common Stock Repurchase Program At December 31, 2024 and December 31, 2023, there were 2,217 and 2,287 authorized shares remaining under the Company's common stock repurchase authorization (the "Common Stock Repurchase Program"). During the year ended December 31, 2024, we repurchased 70 common shares under this authorization for a cost of $1,344 with BUCKLER (see Note 15 - Related Party Transactions for discussion of additional transactions with BUCKLER). During the year ended December 31, 2023 we repurchased a total of 11 fractional shares for a cost of $233, in connection with the Reverse Stock Split. During the year ended December 31, 2023, we repurchased 466 common shares under this authorization for a cost of $9,702. Under the Common Stock Repurchase Program, shares may be purchased in the open market, including block trades, through privately negotiated transactions, or pursuant to a trading plan separately adopted in the future. The timing, manner, price and amount of any repurchases will be at our discretion, subject to the requirements of the Exchange Act, and related rules. We are not required to repurchase any shares under the Common Stock Repurchase Program and it may be modified, suspended or terminated at any time for any reason. We do not intend to purchase shares from our Board or other affiliates. Under Maryland law, such repurchased shares are treated as authorized but unissued. See Note 15 - Related Party Transactions for discussion of additional transactions with BUCKLER. Equity Capital Activities The following tables present our equity transactions for the years ended December 31, 2024 , December 31, 2023 and December 31, 2022. Transaction Type Completion Date Number of Shares Per Share price (1) Net Proceeds (Costs) December 31, 2024 2023 Common stock ATM Sales Agreement July 26, 2024 - December 27, 2024 13,619 $ 19.50 $ 265,614 DRIP shares issued January 25, 2024 - December 30, 2024 5 $ 18.95 $ 86 Common stock repurchased January 22, 2024 - January 25, 2024 (70) $ 19.31 $ (1,344) December 31, 2023 2021 Common stock ATM Sales Agreement January 4, 2023 - July 12, 2023 13,305 $ 27.66 $ 367,997 2023 Common stock ATM Sales Agreement July 26, 2023 - September 29, 2023 3,328 $ 24.66 $ 82,100 DRIP shares issued July 25, 2023 - September 29, 2023 3 $ 19.71 $ 51 Common stock repurchased March, May and September, October and November (477) $ 20.80 $ (9,935) Transaction Type Completion Date Number of Shares Per Share price (1) Net Proceeds (Costs) December 31, 2022 2021 Common stock ATM Sales Agreement January 11, 2022 - December 21, 2022 14,008 $ 33.95 $ 475,537 Common stock repurchased June, September and October (296) $ 25.94 $ (7,664) (1) Weighted average price Dividends On January 27, 2025, a cash dividend of $0.14583 per outstanding share of Series C Preferred Stock, or $998 in the aggregate, was paid to holders of record on January 15, 2025. We have also declared cash dividends of $0.14583 payable February 27, 2025 and March 27, 2025 to holders of record on February 15, 2025 and March 15, 2025, respectively. On January 30, 2025, a cash dividend of $0.24 per outstanding common share, or $16,009 in the aggregate, was paid to holders of record on January 15, 2025. We have also declared cash dividends of $0.24 per outstanding common share payable February 27, 2025 and March 27, 2025 to holders of record on February 14, 2025 and March 17, 2025, respectively. The following table presents our Series C Preferred Stock dividend transactions for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. 2024 Record Date Payment Date Rate per Aggregate January 15, 2024 January 29, 2024 $ 0.14583 $ 998.5 February 15, 2024 February 27, 2024 $ 0.14583 998.5 March 15, 2024 March 27, 2024 $ 0.14583 998.5 April 15, 2024 April 29, 2024 $ 0.14583 998.5 May 15, 2024 May 28, 2024 $ 0.14583 998.5 June 15, 2024 June 27, 2024 $ 0.14583 998.5 July 15, 2024 July 29, 2024 $ 0.14583 998.5 August 15, 2024 August 27, 2024 $ 0.14583 998.5 September 15, 2024 September 27, 2024 $ 0.14583 998.5 October 15, 2024 October 28, 2024 $ 0.14583 998.5 November, 15, 2024 November 27, 2024 $ 0.14583 998.5 December 15, 2024 December 27, 2024 $ 0.14583 998.5 Total dividends paid $ 11,982 2023 Record Date Payment Date Rate per Series C Preferred Share Aggregate January 15, 2023 January 27, 2023 $ 0.14583 998.5 February 15, 2023 February 27, 2023 $ 0.14583 998.5 March 15, 2023 March 27, 2023 $ 0.14583 998.5 April 15, 2023 April 27, 2023 $ 0.14583 998.5 May 15, 2023 May 30, 2023 $ 0.14583 998.5 June 15, 2023 June 27, 2023 $ 0.14583 998.5 July 15, 2023 July 27, 2023 $ 0.14583 998.5 August 15, 2023 August 28, 2023 $ 0.14583 998.5 September 15, 2023 September 27, 2023 $ 0.14583 998.5 October 15, 2023 October 27, 2023 $ 0.14583 998.5 November, 15, 2023 November 27, 2023 $ 0.14583 998.5 December 15, 2023 December 27, 2023 $ 0.14583 998.5 Total dividends paid $ 11,982 2022 Record Date Payment Date Rate per Series C Preferred Share Aggregate January 15, 2022 January 27, 2022 $ 0.14583 998.5 February 15, 2022 February 28, 2022 $ 0.14583 998.5 March 15, 2022 March 28, 2022 $ 0.14583 998.5 April 15, 2022 April 27, 2022 $ 0.14583 998.5 May 15, 2022 May 27, 2022 $ 0.14583 998.5 June 15, 2022 June 27, 2022 $ 0.14583 998.5 July 15, 2022 July 27, 2022 $ 0.14583 998.5 August 15, 2022 August 29, 2022 $ 0.14583 998.5 September 15, 2022 September 27, 2022 $ 0.14583 998.5 October 15, 2022 October 27, 2022 $ 0.14583 998.5 November 15, 2022 November 28, 2022 $ 0.14583 998.5 December 15, 2022 December 27, 2022 $ 0.14583 998.5 Total dividends paid $ 11,982 The following tables present our common stock dividend transactions for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. 2024 Record Date Payment Date Rate per common share Aggregate January 16, 2024 January 30, 2024 $ 0.24 $ 11,787 February 15, 2024 February 28, 2024 $ 0.24 11,770 March 15, 2024 March 28, 2024 $ 0.24 11,755 April 15, 2024 April 29, 2024 $ 0.24 11,756 May 15, 2024 May 28, 2024 $ 0.24 11,756 June 17, 2024 June 27, 2024 $ 0.24 11,754 July 15, 2024 July 30, 2024 $ 0.24 11,755 August 15, 2024 August 29, 2024 $ 0.24 12,532 September 16, 2024 September 27, 2024 $ 0.24 13,188 October 15, 2024 October 30, 2024 $ 0.24 13,389 November, 15, 2024 November 27, 2024 $ 0.24 14,623 December 16, 2024 December 30, 2024 $ 0.24 14,925 Total dividends paid $ 150,990 2023 Record Date Payment Date Rate per common share Aggregate January 17, 2023 January 30, 2023 $ 0.50 $ 17,007 February 15, 2023 February 27, 2023 $ 0.50 19,471 March 15, 2023 March 28, 2023 $ 0.40 15,526 April 17, 2023 April 27, 2023 $ 0.40 15,788 May 15, 2023 May 30, 2023 $ 0.40 15,964 June 15, 2023 June 29, 2023 $ 0.40 16,585 July 17, 2023 July 28, 2023 $ 0.40 18,405 August 15, 2023 August 30, 2023 $ 0.40 19,123 September 15, 2023 September 28, 2023 $ 0.40 19,310 October 16, 2023 October 30, 2023 $ 0.40 19,730 November, 15, 2023 November 29, 2023 $ 0.40 19,671 December 15, 2023 December 28, 2023 $ 0.40 19,644 Total dividends paid $ 216,224 2022 Record Date Payment Date Rate per common share Aggregate January 18, 2022 January 28, 2022 $ 0.50 $ 9,654 February 15, 2022 February 28, 2022 $ 0.50 9,690 March 15, 2022 March 28, 2022 $ 0.50 9,764 April 18, 2022 April 29, 2022 $ 0.50 10,359 May 16, 2022 May 27, 2022 $ 0.50 10,639 June 15, 2022 June 29, 2022 $ 0.50 11,159 July 15, 2022 July 29, 2022 $ 0.50 11,426 August 15, 2022 August 29, 2022 $ 0.50 12,313 September 15, 2022 September 29, 2022 $ 0.50 13,406 October 17, 2022 October 28, 2022 $ 0.50 13,284 November 15, 2022 November 28, 2022 $ 0.50 14,465 December 15, 2022 December 28, 2022 $ 0.50 16,265 Total dividends paid $ 142,424

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Net Income (Loss) per Common Share	Note 12 - Net Income (Loss) per Common Share The following table presents a reconciliation of net loss and the shares used in calculating weighted average basic and diluted earnings per common share for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Net Loss $ (14,394) $ (67,923) $ (229,930) Less: Preferred dividends (11,982) (11,982) (11,982) Net loss related to common stockholders $ (26,376) $ (79,905) $ (241,912) Weighted average common shares outstanding – basic 52,158 43,054 23,594 Add: Effect of dilutive non-vested awards, assumed vested — — — Weighted average common shares outstanding – diluted 52,158 43,054 23,594 Net loss per share related to common stockholders - basic $ (0.51) $ (1.86) $ (10.25) Net loss per share related to common stockholders - diluted $ (0.51) $ (1.86) $ (10.25) For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, 170, 298 and 114, respectively, of potentially dilutive non-vested awards outstanding were excluded from the computation of diluted Net Loss related to common stockholders because to have included them would have been anti-dilutive for the period. Note 13 - Comprehensive Income (Loss) per Common Share The following table presents a reconciliation of comprehensive loss and the shares used in calculating weighted average basic and diluted comprehensive loss per common share for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Comprehensive Loss $ (14,394) $ (56,396) $ (348,430) Less: Preferred dividends (11,982) (11,982) (11,982) Comprehensive Loss related to common stockholders $ (26,376) $ (68,378) $ (360,412) Comprehensive Loss per share related to common stockholders: Basic $ (0.51) $ (1.59) $ (15.28) Diluted $ (0.51) $ (1.59) $ (15.28) Weighted average common shares outstanding: Basic 52,158 43,054 23,594 Add: Effect of dilutive non-vested awards, assumed vested — — — Diluted 52,158 43,054 23,594 For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, 170, 298 and 114 of potentially dilutive non-vested awards outstanding were excluded from the computation of diluted Comprehensive Loss related to common stockholders because to have included them would have been anti-dilutive for the period.

Comprehensive Income (Loss) per

Comprehensive Income (Loss) per Common Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Comprehensive Income (Loss) per Common Share	Note 12 - Net Income (Loss) per Common Share The following table presents a reconciliation of net loss and the shares used in calculating weighted average basic and diluted earnings per common share for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Net Loss $ (14,394) $ (67,923) $ (229,930) Less: Preferred dividends (11,982) (11,982) (11,982) Net loss related to common stockholders $ (26,376) $ (79,905) $ (241,912) Weighted average common shares outstanding – basic 52,158 43,054 23,594 Add: Effect of dilutive non-vested awards, assumed vested — — — Weighted average common shares outstanding – diluted 52,158 43,054 23,594 Net loss per share related to common stockholders - basic $ (0.51) $ (1.86) $ (10.25) Net loss per share related to common stockholders - diluted $ (0.51) $ (1.86) $ (10.25) For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, 170, 298 and 114, respectively, of potentially dilutive non-vested awards outstanding were excluded from the computation of diluted Net Loss related to common stockholders because to have included them would have been anti-dilutive for the period. Note 13 - Comprehensive Income (Loss) per Common Share The following table presents a reconciliation of comprehensive loss and the shares used in calculating weighted average basic and diluted comprehensive loss per common share for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Comprehensive Loss $ (14,394) $ (56,396) $ (348,430) Less: Preferred dividends (11,982) (11,982) (11,982) Comprehensive Loss related to common stockholders $ (26,376) $ (68,378) $ (360,412) Comprehensive Loss per share related to common stockholders: Basic $ (0.51) $ (1.59) $ (15.28) Diluted $ (0.51) $ (1.59) $ (15.28) Weighted average common shares outstanding: Basic 52,158 43,054 23,594 Add: Effect of dilutive non-vested awards, assumed vested — — — Diluted 52,158 43,054 23,594 For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, 170, 298 and 114 of potentially dilutive non-vested awards outstanding were excluded from the computation of diluted Comprehensive Loss related to common stockholders because to have included them would have been anti-dilutive for the period.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 14 - Income Taxes The following table reconciles our GAAP net loss to estimated REIT taxable income (loss) for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 GAAP net loss $ (14,394) $ (67,923) $ (229,930) Book to tax differences: TRS (income) loss (51) 81 (186) Premium amortization expense — (1) (81) Agency Securities, trading 348,646 52,665 946,666 U.S. Treasury Securities (37,602) 43,093 152,268 Changes in interest rate contracts (93,236) 167,963 (757,742) Loss on Security sales — 7,471 7,452 Impairment losses on available for sale Agency Securities — — 4,183 Amortization of deferred hedging costs (82,209) (103,669) (145,267) Amortization of deferred Treasury Future gains 16,753 23,161 3,383 Other 2,134 1,876 2,340 Estimated REIT taxable income (loss) $ 140,041 $ 124,717 $ (16,914) Interest rate contracts and futures contracts are treated as hedging transactions for U.S. federal income tax purposes. Unrealized gains and losses on open interest rate contracts are not included in the determination of REIT taxable income. Realized gains and losses on interest rate contracts and futures contracts terminated before their maturity are deferred and amortized over the remainder of the original term of the contract for REIT taxable income. At December 31, 2024 and December 31, 2023, we had approximately $(189,450) and $(247,349) of net deductible expense relating to previously terminated interest rate swap and treasury futures/shorts contracts amortizing through the years 2034 and 2033, respectively. At December 31, 2024, we had $257,341 of net operating loss carryforwards available for use indefinitely. Net capital losses realized Amount Available to offset capital gains through 2021 (15,606) 2026 2022 (732,477) 2027 2023 (472,002) 2028 2024 (46,823) 2029 The Company's subsidiary, ARMOUR TRS, Inc. has made an election as a taxable REIT subsidiary (“TRS”). As such, the TRS is taxable as a domestic C corporation and subject to federal, state, and local income taxes based upon its taxable income. The aggregate tax basis of our assets and liabilities was greater than our total Stockholders’ Equity at December 31, 2024, by approximately $203,536, or approximately $3.26 per common share (based on the 62,412 common shares then outstanding). State and federal tax returns for the years 2021 and later remain open and are subject to possible examination. We are required and intend to timely distribute substantially all of our REIT taxable income in order to maintain our REIT status under the Code. Total dividend payments to stockholders for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 were $162,972, $228,206 and $154,406, respectively. Our estimated REIT taxable income and dividend requirements to maintain our REIT status are determined on an annual basis. Dividends paid in excess of current tax earnings and profits for the year will generally not be taxable to common stockholders. The portion of the dividends on our common stock which represented non-taxable return of capital was 14.8% in 2024, 47.5% in 2023 and 100.0% in 2022. Our management is responsible for determining whether tax positions taken by us are more likely than not to be sustained on their merits. We have no material unrecognized tax benefits or material uncertain tax positions for all periods presented.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 15 - Related Party Transactions ACM The Company is managed by ACM, pursuant to a management agreement. All of our executive officers are also employees of ACM. ACM manages our day-to-day operations, subject to the direction and oversight of the Board. The management agreement runs through December 31, 2029 and is thereafter automatically renewed for an additional five-year term unless terminated under certain circumstances. Either party must provide 180 days prior written notice of any such termination. Under the terms of the management agreement, ACM is responsible for costs incident to the performance of its duties, such as compensation of its employees and various overhead expenses. ACM is responsible for the following primary roles: • Advising us with respect to, arranging for and managing the acquisition, financing, management and disposition of, elements of our investment portfolio; • Evaluating the duration risk and prepayment risk within the investment portfolio and arranging borrowing and hedging strategies; • Coordinating capital raising activities; • Advising us on the formulation and implementation of operating strategies and policies, arranging for the acquisition of assets, monitoring the performance of those assets and providing administrative and managerial services in connection with our day-to-day operations; and • Providing executive and administrative personnel, office space and other appropriate services required in rendering management services to us. ACM has voluntarily waived a portion of its contractual management fee. ACM is currently waiving $550 per month of its contractual management fee until ACM provides further notice to ARMOUR (see Note 9 - Commitments and Contingencies). The following table reconciles the fees incurred in accordance with the management agreement for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 ARMOUR management fees $ 39,726 $ 38,121 $ 33,714 Less management fees waived (6,600) (6,600) (7,800) Total management fee expense $ 33,126 $ 31,521 $ 25,914 We are required to take actions as may be reasonably required to permit and enable ACM to carry out its duties and obligations. We are also responsible for any costs and expenses that ACM incurred solely on our behalf other than the various overhead expenses, which are included in Other Operating expenses in the consolidated statements of operations and comprehensive income (loss), specified in the terms of the management agreement. For the years ended December 31, 2024, December 31, 2023 and December 31, 2022 we reimbursed ACM $965, $535 and $606, respectively for other expenses incurred on our behalf. In 2020, 2021 and 2023, we elected to grant restricted stock unit awards to our executive officers and other ACM employees that generally vest over 5 years. In 2020, 2021 and 2023, we elected to grant RSUs to the Board. We recognized stock based compensation expense of $350, $456 and $544 for the years ended, December 31, 2024, December 31, 2023 and December 31, 2022, respectively. BUCKLER At December 31, 2024, we held an ownership interest in BUCKLER of 10.8%, which is included in prepaid and other assets in our consolidated balance sheet and is accounted for using the equity method as BUCKLER maintains specific ownership accounts. Based on our evaluation of certain protective rights and the nature of the on demand subordinated loan agreement, we have determined that we do not have the power to direct the day-to-day activities that most significantly impact BUCKLER's economic performance and additionally do not have the obligation to absorb losses or the right to receive benefits that could be significant to BUCKLER. As a result, we do not have a controlling financial interest, and thus, are not BUCKLER's primary beneficiary and do not consolidate BUCKLER. The value of the investment was $453 at December 31, 2024 and $382 at December 31, 2023 reflecting our total investment plus our share of BUCKLER’s operating results, in accordance with the terms of the operating agreement of BUCKLER that our independent directors negotiated. The primary purpose of our investment in BUCKLER is to facilitate our access to repurchase financing. Our operating agreement with BUCKLER contains certain provisions to benefit and protect the Company, including (1) sharing in any (a) defined profits realized by BUCKLER from the anticipated financing spreads resulting from repurchase financing facilitated by BUCKLER, and (b) distributions from BUCKLER to its members of net cash receipts, and (2) the realization of anticipated savings from reduced clearing, brokerage, trading and administrative fees. In addition, the independent directors of the Company must approve, in their sole discretion, any third-party business engaged by BUCKLER and may, under certain circumstances, cause BUCKLER to wind up and dissolve and promptly return certain subordinated loans we provide to BUCKLER as regulatory capital (as described more fully below). For each of the years ended December 31, 2024 and December 31, 2023, we earned $0 from BUCKLER as an allocated share of Financing Gross Profit for a reduction of interest on repurchase agreements charged to the Company. Financing Gross Profit is defined in the operating agreement. Effective March 20, 2023, the Company committed to provide on demand a subordinated loan agreement to BUCKLER in an amount up to $200,000. The commitment extends through March 20, 2026, and is collateralized by mortgage backed and/or U.S. Treasury Securities owned by the Company and pledged to BUCKLER. The commitment is treated by BUCKLER currently as capital for regulatory purposes and BUCKLER may pledge the securities to secure its own borrowings. This arrangement replaced the prior $105,000 subordinated loan, which was to mature on May 1, 2025. In March 2023, BUCKLER, at its option after obtaining regulatory approval, repaid all of the principal amount of the loan. The loan had a stated interest rate of zero, plus additional interest payable to the Company in an amount equal to the amount of interest earned by BUCKLER on the investment of the loan proceeds, generally in government securities funds. For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the Company earned $0, $973 and $1,597 in interest on this loan. On February 22, 2021, the Company entered into an uncommitted revolving credit facility and security agreement with BUCKLER. Under the terms of the facility, the Company may, in its sole and absolute discretion, provide drawings to BUCKLER of up to $50,000. Interest on drawings is payable monthly at the Federal Reserve Bank of New York SOFR plus 2% per annum. To date, BUCKLER has not yet used the facility and therefore no interest expense was payable for the year ended December 31, 2024. With BUCKLER as the sales agent, under the 2021 Common stock ATM Sales Agreement, we sold 8,626 and 10,117 common shares for proceeds of $246,672 and $334,415, net of issuance costs and commissions of approximately $2,358 and $3,375, respectively, during the years ended December 31, 2023 and December 31, 2022. With BUCKLER as the sales agent, under the 2023 Common stock ATM Sales Agreement, we sold 11,370 and 3,113 common shares for proceeds of $221,472 and $77,092, net of issuance costs and commissions of approximately $1,740 and $661, respectively, during the years ended December 31, 2024 and December 31, 2023. In the first quarter of 2025, through February 4, 2025, we sold 5,902 shares under this agreement for proceeds of $109,971, net of issuance costs and commissions of approximately $831 (see Note 11 - Stockholders' Equity). During the years ended December 31, 2024 and December 31, 2023, we repurchased 70 and 466 common shares under the current repurchase authorization which cost $1,344 and $9,702, including commissions of approximately $11 and $82 to BUCKLER, respectively (see Note 11 - Stockholders' Equity).

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Note 16 - Segment Reporting We operate in the U.S. and invest primarily in fixed rate residential, adjustable rate and hybrid adjustable rate residential MBS issued or guaranteed by U.S. GSEs or guaranteed by Ginnie Mae. From time to time, we may also invest in U.S. Treasury Securities and money market instruments. Resources and financial performance are assessed by our CEO and Co-Chief Investment Officers who collectively are the Company’s Chief Operating Decision Maker (“CODM”), based on total assets reported on the consolidated balance sheets and comprehensive income as reported on the consolidated statements of operations and comprehensive income (loss). Our CODM views consolidated expense information related to interest expense, management fees, compensation and other operating expenses as disclosed on our consolidated statement of operations as significant. The CODM manages our investment portfolio as a whole and decisions regarding investments and hedging are made collectively based on the inputs above. Accordingly, the Company consists of a single operating and reportable segment and the consolidated financial statements and notes thereto are presented as a single reportable segment. Since the Company operates in a single segment, the segment information is consistent with the consolidated financial statements. Therefore, no reconciliation is necessary.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 17 - Subsequent Events

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Loss	$ (14,394)	$ (67,923)	$ (229,930)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management We recognize the importance of developing, implementing, and maintaining cybersecurity measures to safeguard our information systems and protect the integrity and confidentiality of our data. ACM has established an Information Technology Steering Committee (the "ITSC”) to help mitigate technology risks including those relating to cybersecurity. One of the roles of the ITSC is to oversee cyber risk assessments, monitor applicable key risk indicators, review cybersecurity training procedures, oversee the Company’s Cybersecurity Incident Response Plan and engage third-party service providers to conduct periodic penetration testing, advise on current best practices and review policies and procedures. Third-party Service Providers The ITSC engages with external experts, including cybersecurity assessors and consultants in evaluating and testing our cyber risk systems. These engagements enable leveraging specialized knowledge and provides insight to attempt to ensure the cybersecurity strategies and processes are industry best practices. Our collaboration with these third-party service providers includes regular audits, threat assessments, and consultation on security enhancements. Because of the risks associated with third-party service providers, the ITSC has implemented processes to oversee and manage these risks. Security assessments of key third-party providers are performed before engagement with ongoing monitoring performed to attempt to ensure compliance with cybersecurity standards. The monitoring includes quarterly assessments by the ITSC. This approach is designed to mitigate risks related to data breaches or other security incidents originating from third parties. Our cybersecurity risk assessment includes an evaluation of cyber risk related to sensitive data held by third parties on their systems. There is no assurance that these efforts will effectively mitigate cybersecurity risk and mitigation efforts are not an assurance that no cybersecurity incidents will occur. Risks from Cybersecurity Threats
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	In addition to our scheduled meetings, the Audit Committee, ITSC and CEO maintain an ongoing dialogue regarding emerging or potential cybersecurity risks. Together, they receive updates on any significant developments in the cybersecurity domain, attempting to ensure the Board’s oversight is proactive and responsive. The Audit Committee provides the guidance that attempts to ensure cybersecurity considerations are integrated into the broader operating environment. The Audit Committee conducts an annual review of the company’s cybersecurity position and the effectiveness of its risk management strategies. This review helps in identifying areas for improvement and attempting to ensure the alignment of cybersecurity efforts with the overall risk management framework.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board is aware of the critical nature of managing risks associated with cybersecurity threats and has established oversight mechanisms to ensure effective governance in managing risks associated with cybersecurity threats. Our Audit Committee periodically monitors and oversees our information and cybersecurity risks including
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Audit Committee periodically monitors and oversees our information and cybersecurity risks including reviewing and approving any information and cybersecurity policies, procedures and resources, and reviewing our information and cybersecurity risk assessment, detection, protection, and mitigation systems.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Audit Committee periodically monitors and oversees our information and cybersecurity risks including reviewing and approving any information and cybersecurity policies, procedures and resources, and reviewing our information and cybersecurity risk assessment, detection, protection, and mitigation systems.
Cybersecurity Risk Role of Management [Text Block]	Management’s Role The ITSC and the Chief Executive Officer (“CEO") play a pivotal role in informing the Audit Committee on cybersecurity risks. They provide comprehensive briefings to the Audit Committee on a regular basis, with a minimum frequency of once per year. These briefings encompass a broad range of topics, including: • Current cybersecurity landscape and emerging threats; • Status of ongoing cybersecurity initiatives and strategies; • Incident reports from any cybersecurity events; and • Compliance with regulatory requirements and industry standards. In addition to our scheduled meetings, the Audit Committee, ITSC and CEO maintain an ongoing dialogue regarding emerging or potential cybersecurity risks. Together, they receive updates on any significant developments in the cybersecurity domain, attempting to ensure the Board’s oversight is proactive and responsive. The Audit Committee provides the guidance that attempts to ensure cybersecurity considerations are integrated into the broader operating environment. The Audit Committee conducts an annual review of the company’s cybersecurity position and the effectiveness of its risk management strategies. This review helps in identifying areas for improvement and attempting to ensure the alignment of cybersecurity efforts with the overall risk management framework. Risk Management Personnel Primary responsibility for assessing, monitoring, and managing our cybersecurity risks rests with the ITSC. This committee consists of the Chief Technology Officer ("CTO"), IT Systems Administrator, Co-Chief Investment Officers, Controller and the CFO. Our CTO has over a twenty years of experience with cybersecurity, and our IT Systems Administrator has cybersecurity experience and certifications. All ACM employees are required to complete monthly cybersecurity trainings. Our ITSC oversees our governance programs, tests our compliance with standards, remediates known risks, and leads our cybersecurity training procedures. Monitoring The ITSC is informed by our CTO about the latest developments in cybersecurity, including potential threats and innovative risk management techniques. Information technology subscriptions and cybersecurity updates are reviewed regularly by our CTO and continuing education in the cybersecurity field is ongoing. This ongoing knowledge acquisition is crucial for the effective prevention, detection, mitigation, and remediation of cybersecurity incidents. The ITSC implements and oversees processes for the regular monitoring of our information systems. This includes the deployment of advanced security measures and regular system audits to identify potential vulnerabilities. In the event of a cybersecurity incident, the ITSC is equipped with a well-defined incident response plan. This plan includes immediate actions to mitigate the impact and long-term strategies for remediation and prevention of future incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Primary responsibility for assessing, monitoring, and managing our cybersecurity risks rests with the ITSC. This committee consists of the Chief Technology Officer ("CTO"), IT Systems Administrator, Co-Chief Investment Officers, Controller and the CFO. Our CTO has over a twenty years of experience with cybersecurity, and our IT Systems Administrator has cybersecurity experience and certifications. All ACM employees are required to complete monthly cybersecurity trainings. Our ITSC oversees our governance programs, tests our compliance with standards, remediates known risks, and leads our cybersecurity training procedures.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CTO has over a twenty years of experience with cybersecurity, and our IT Systems Administrator has cybersecurity experience and certifications. All ACM employees are required to complete monthly cybersecurity trainings.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Monitoring The ITSC is informed by our CTO about the latest developments in cybersecurity, including potential threats and innovative risk management techniques. Information technology subscriptions and cybersecurity updates are reviewed regularly by our CTO and continuing education in the cybersecurity field is ongoing. This ongoing knowledge acquisition is crucial for the effective prevention, detection, mitigation, and remediation of cybersecurity incidents. The ITSC implements and oversees processes for the regular monitoring of our information systems. This includes the deployment of advanced security measures and regular system audits to identify potential vulnerabilities. In the event of a cybersecurity incident, the ITSC is equipped with a well-defined incident response plan. This plan includes immediate actions to mitigate the impact and long-term strategies for remediation and prevention of future incidents. Reporting The ITSC regularly informs the CEO of all known aspects related to cybersecurity risks and incidents. This attempts to ensure that the highest levels of management are kept abreast of the cybersecurity posture and potential risks facing ARMOUR. Furthermore, significant cybersecurity matters are escalated to the Board, so that the Board can provide guidance on critical cybersecurity issues.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”). The consolidated financial statements include the accounts of ARMOUR Residential REIT, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Use of Estimates	Significant estimates affecting the accompanying consolidated financial statements include the valuation of MBS and derivative instruments.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents includes cash on deposit with financial institutions with original maturities of three months or less. We may maintain deposits in federally insured financial institutions in excess of federally insured limits. However, management believes we are not exposed to significant credit risk due to the financial position and creditworthiness of the depository institutions in which those deposits are held.
Cash Collateral Posted To/By Counterparties	Cash Collateral Posted To/By Counterparties Cash collateral posted to/by counterparties represents cash posted by us to counterparties or posted by counterparties to us as collateral. Cash collateral posted to/by counterparties may include collateral for interest rate swap contracts, interest rate swaptions, basis swap contracts, futures contracts, repurchase agreements on our MBS and our Agency Securities purchased or sold on a to-be-announced basis ("TBA Agency Securities"). The interest earned or paid on cash collateral posted to/by counterparties is recorded in gain on derivatives, net in the consolidated statements of operations and comprehensive income (loss).
Investments in Securities, at Fair Value	Investments in Securities, at Fair Value Our investments in securities are generally classified as either available for sale or trading securities. Management determines the appropriate classifications of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. Trading Securities are reported at their estimated fair values with gains and losses included in Other Income (Loss) as a component of the consolidated statements of operations and comprehensive income (loss). Available for Sale Securities represented investments that we intended to hold for extended periods of time and were reported at their estimated fair values with unrealized gains and losses excluded from earnings and reported as part of comprehensive income (loss). During the first quarter of 2023, we sold the remaining balance of our Available for Sale Securities which resulted in a realized loss of $7,471.
Receivables and Payables for Unsettled Sales and Purchases	Receivables and Payables for Unsettled Sales and Purchases We account for purchases and sales of securities on the trade date based on the specific identification method, including purchases and sales for forward settlement. Receivables and payables for unsettled trades represent the agreed trade price multiplied by the outstanding balance of the securities at the balance sheet date.
Accrued Interest Receivable and Payable	Accrued Interest Receivable and Payable Accrued interest receivable includes interest accrued between payment dates on securities and interest on unsettled sales of securities. Accrued interest payable includes interest on unsettled purchases of securities and interest on repurchase agreements, net. At certain times, we may have interest payable on U.S. Treasury Securities sold short.
Repurchase Agreements, net	Repurchase Agreements, net We finance the acquisition of the majority of our MBS through the use of repurchase agreements. Our repurchase agreements are secured by our MBS and bear interest rates that have moved in close relationship to the Federal Funds Effective Rate ("Federal Funds Rate") and the Secured Overnight Funding Rate ("SOFR"). Under these repurchase agreements, we sell MBS to a lender and agree to repurchase the same MBS in the future for a price that is higher than the original sales price. The difference between the sales price that we receive and the repurchase price that we pay represents interest paid to the lender, which accrues over the life of the repurchase agreement. A repurchase agreement operates as a financing arrangement under which we pledge our MBS as collateral to secure a loan which is equal in value to a specified percentage of the estimated fair value of the pledged collateral. We retain beneficial ownership of the pledged collateral. At the maturity of a repurchase agreement, we are required to repay the loan and concurrently receive back our pledged collateral from the lender or, with the consent of the lender, we may renew such agreement at the then prevailing interest rate. The repurchase agreements may require us to pledge additional assets to the lender in the event the estimated fair value of the existing pledged collateral declines or take back certain pledged collateral if values increase. In addition to the repurchase agreement financing discussed above, at certain times, we have entered into reverse repurchase agreements with certain of our repurchase agreement counterparties. Under a typical reverse repurchase agreement, we purchase U.S. Treasury Securities from a borrower in exchange for cash and agree to sell the same securities in the future in exchange for a price that is higher than the original purchase price. The difference between the purchase price originally paid and the sale price represents interest received from the borrower. Reverse repurchase agreement receivables and repurchase agreement liabilities are presented net when they meet certain criteria, including being with the same counterparty, being governed by the same master repurchase agreement ("MRA"), settlement through the same brokerage or clearing account and maturing on the same day. At December 31, 2024 and December 31, 2023, we had $498,250 ($447,063 of which were with BUCKLER) and $353,937 (all of which were with BUCKLER), respectively, in reverse repurchase agreements which are recorded in repurchase agreements, net on our consolidated balance sheet.
Obligations to Return Securities Received as Collateral, at Fair Value	Obligations to Return Securities Received as Collateral, at Fair Value We also sell to third parties the U.S. Treasury Securities received as collateral for reverse repurchase agreements and recognize the resulting obligation to return said U.S. Treasury Securities as a liability on our consolidated balance sheet. Interest is recorded on the repurchase agreements, reverse repurchase agreements and U.S. Treasury Securities on an accrual basis and presented as net interest expense. Both parties to the transaction have the right to make daily margin calls based on changes in the fair value of the collateral received and/or pledged. At December 31, 2024 and December 31, 2023 we had obligations to return securities received as collateral associated with our reverse repurchase agreements of $493,433 and $350,273, respectively.
Derivatives, at Fair Value	Derivatives, at Fair Value We recognize all derivatives individually as either assets or liabilities at fair value on our consolidated balance sheets. All changes in the fair values of our derivatives are reflected in our consolidated statements of operations and comprehensive income (loss). We designate derivatives as hedges for tax purposes and any unrealized derivative gains or losses would not affect our distributable net taxable income. These transactions may include interest rate swap contracts, interest rate swaptions, basis swap contracts and futures contracts. We also may utilize forward contracts for the purchase or sale of TBA Agency Securities. We account for TBA Agency Securities as derivative instruments if it is reasonably possible that we will not take or make physical delivery of the Agency Security upon settlement of the contract. We account for TBA dollar roll transactions as a series of derivative transactions. We may also purchase and sell TBA Agency Securities as a means of investing in and financing Agency Securities (thereby increasing our “at risk” leverage) or as a means of disposing of or reducing our exposure to Agency Securities (thereby reducing our “at risk” leverage). We agree to purchase or sell, for future delivery, Agency Securities with certain principal and interest terms and certain types of collateral, but the particular Agency Securities to be delivered are not identified until shortly before the TBA settlement date. We may also choose, prior to settlement, to move the settlement of these securities out to a later date by entering into an offsetting short or long position (referred to as a “pair off”), net settling the paired off positions for cash, and simultaneously purchasing or selling a similar TBA Agency Security for a later settlement date. This transaction is commonly referred to as a “dollar roll.” When it is reasonably possible that we will pair off a TBA Agency Security, we account for that contract as a derivative.
Revenue Recognition	Revenue Recognition Interest income is earned and recognized on Agency Securities based on their unpaid principal amounts and their contractual terms. We record interest payable for interest received on securities sold during the period between the trade date and settlement date and interest receivable for purchases during the period between the trade date and settlement date. Premiums and discounts associated with the purchase of Multi-Family MBS, which are generally not subject to prepayment, are amortized or accreted into interest income over the contractual lives of the securities using a level yield method. Premiums and discounts associated with the purchase of other Agency Securities are amortized or accreted into interest income over the actual lives of the securities, reflecting actual prepayments as they occur. Purchase and sale transactions (including TBA Agency Securities) are recorded on the trade date, based on the specific identification method, to the extent it is probable that we will take or make timely physical delivery of the related securities. Gains or losses realized from sales of available for sale securities are reclassified into income from Comprehensive Income (Loss) and are determined using the specific identification method. Interest income on U.S. Treasury Securities is recognized based on their unpaid principal amounts and their contractual terms. Recognition of interest income commences on the settlement date of the purchase transaction and continues through the settlement date of the sale transaction.
Comprehensive Income (Loss)	Comprehensive Income (Loss)
Recent Accounting Pronouncements	In November 2023, the Financial Accounting Standards Board issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in the standard apply to all public entities and requires enhanced disclosures about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024 with early adoption permitted. The Company has adopted this standard which did not have a significant impact on the consolidated financial statements (see Note 16 - Segment Reporting).

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables provide a summary of our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2024 and December 31, 2023. December 31, 2024 Level 1 Level 2 Level 3 Balance Assets at Fair Value: Agency Securities $ — $ 12,439,414 $ — $ 12,439,414 Derivatives $ 13,300 $ 894,763 $ — $ 908,063 Liabilities at Fair Value: Obligations to return securities as collateral $ — $ 493,433 $ — $ 493,433 Derivatives $ 328 $ 957 $ — $ 1,285 December 31, 2023 Level 1 Level 2 Level 3 Balance Assets at Fair Value: Agency Securities $ — $ 11,159,754 $ — $ 11,159,754 Derivatives $ — $ 877,412 $ — $ 877,412 Liabilities at Fair Value: Obligations to return securities as collateral $ — $ 350,273 $ — $ 350,273 Derivatives $ — $ 5,036 $ — $ 5,036

Investments in Securities (Tabl

Investments in Securities (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities in an Unrealized Gain or Loss Position	The tables below present the components of the carrying value and the unrealized gain or loss position of our investments in securities at December 31, 2024 and December 31, 2023. December 31, 2024 Principal Amount Amortized Cost Gross Unrealized Loss Gross Unrealized Gain Fair Value Agency Securities, trading $ 12,957,039 $ 12,806,504 $ (370,044) $ 2,954 $ 12,439,414 December 31, 2023 Agency Securities, trading $ 11,278,161 $ 11,283,380 $ (176,660) $ 53,034 $ 11,159,754
Schedule of Investments Classified by Contractual Maturity Date	The following tables summarize the weighted average lives of our investments in securities at December 31, 2024 and December 31, 2023. December 31, 2024 December 31, 2023 Weighted Average Life Fair Value Amortized Cost Fair Value Amortized Cost < 1 year $ — $ — $ — $ — ≥ 1 year and < 3 years — — 202,508 195,904 ≥ 3 years and < 5 years 1,329,834 1,341,663 2,757,464 2,747,842 ≥ 5 years 11,109,580 11,464,841 8,199,782 8,339,634 Totals $ 12,439,414 $ 12,806,504 $ 11,159,754 $ 11,283,380

Repurchase Agreements, net (Tab

Repurchase Agreements, net (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of Repurchase Agreements [Abstract]
Schedule of Repurchase Agreements	30 days to ≤ 60 days 247,200 4.63 % 31 Total or Weighted Average $ 10,713,830 4.72 % 17 (1) Net of reverse repurchase agreements of $498,250 ($447,063 of which were with BUCKLER). Obligations to return securities received as collateral of $493,433 associated with the reverse repurchase agreements are all due within 30 days. December 31, 2023 Balance Weighted Average Contractual Rate Weighted Average Maturity in days Agency Securities ≤ 30 days (1) $ 9,647,982 5.54 % 12 Total or Weighted Average $ 9,647,982 5.54 % 12 (1) Net of reverse repurchase agreements of $353,937 (all of which were with BUCKLER). Obligations to return securities received as collateral of $350,273 associated with the reverse repurchase agreements all matured in January 2024." id="sjs-B4">The following tables represent the contractual repricing regarding our repurchase agreements to finance MBS purchases at December 31, 2024 and December 31, 2023. Our repurchase agreements require excess collateral, known as a "haircut." At December 31, 2024, the average gross haircut percentage was 2.77% compared to 2.74% at December 31, 2023. The haircut for our repurchase agreements vary by counterparty and therefore, the changes in the average haircut percentage will vary with the changes in our counterparty repurchase agreement balances. December 31, 2024 Balance Weighted Average Contractual Rate Weighted Average Maturity in days Agency Securities ≤ 30 days (1) $ 10,466,630 4.72 % 17 > 30 days to ≤ 60 days 247,200 4.63 % 31 Total or Weighted Average $ 10,713,830 4.72 % 17 (1) Net of reverse repurchase agreements of $498,250 ($447,063 of which were with BUCKLER). Obligations to return securities received as collateral of $493,433 associated with the reverse repurchase agreements are all due within 30 days. December 31, 2023 Balance Weighted Average Contractual Rate Weighted Average Maturity in days Agency Securities ≤ 30 days (1) $ 9,647,982 5.54 % 12 Total or Weighted Average $ 9,647,982 5.54 % 12 (1) Net of reverse repurchase agreements of $353,937 (all of which were with BUCKLER). Obligations to return securities received as collateral of $350,273 associated with the reverse repurchase agreements all matured in January 2024.
Schedule of Reverse Repurchase Agreements Gross and Net Securities Purchased and Sold	The following tables present information about the gross and net securities purchased and sold under our repurchase agreements, net on the accompanying consolidated balance sheets at December 31, 2024 and December 31, 2023. December 31, 2024 Gross Amounts Not Offset Gross Amounts Gross Amounts offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments (1) Cash Collateral Total Net Assets Reverse Repurchase Agreements $ 498,250 $ (498,250) $ — $ — $ — $ — Totals $ 498,250 $ (498,250) $ — $ — $ — $ — Liabilities Repurchase Agreements $ (11,212,080) $ 498,250 $ (10,713,830) $ 10,713,830 $ — $ — Totals $ (11,212,080) $ 498,250 $ (10,713,830) $ 10,713,830 $ — $ — December 31, 2023 Gross Amounts Not Offset Gross Amounts Gross Amounts offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet Financial Instruments (1) Cash Collateral Total Net Assets Reverse Repurchase Agreements $ 353,937 $ (353,937) $ — $ — $ — $ — Totals $ 353,937 $ (353,937) $ — $ — $ — $ — Liabilities Repurchase Agreements $ (10,001,919) $ 353,937 $ (9,647,982) $ 9,647,982 $ — $ — Totals $ (10,001,919) $ 353,937 $ (9,647,982) $ 9,647,982 $ — $ — (1) The fair value of securities pledged against our repurchase agreements was $11,796,858 and $10,599,340 at December 31, 2024 and December 31, 2023, respectively.

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Offsetting Assets	Amounts Not Offset Assets Gross Amounts (1) Financial Cash Collateral Total Net December 31, 2024 Interest rate swap contracts (2) $ 894,714 $ — $ (781,923) $ 112,791 Futures contracts 13,300 (328) 24,702 37,674 TBA Agency Securities 49 (957) 1,578 670 Totals $ 908,063 $ (1,285) $ (755,643) $ 151,135 December 31, 2023 Interest rate swap contracts (2) $ 875,596 $ (5,036) $ (821,089) $ 49,471 TBA Agency Securities 1,816 (1,816) — — Totals $ 877,412 $ (6,852) $ (821,089) $ 49,471 (1) See Note 5 - Fair Value of Financial Instruments for additional discussion. (2) Includes $47,045 and $6,104 of centrally-cleared interest rate swap contracts, respectively.
Schedule of Offsetting Liabilities	Amounts Not Offset Liabilities Gross Amounts (1) Financial Cash Collateral Total Net December 31, 2024 Futures contracts $ (328) $ 328 $ — $ — TBA Agency Securities (957) 957 — — Totals $ (1,285) $ 1,285 $ — $ — December 31, 2023 Interest rate swap contracts (2) $ (5,036) $ 5,036 $ — $ — TBA Agency Securities — 1,816 (2,070) (254) Totals $ (5,036) $ 6,852 $ (2,070) $ (254) (1) See Note 5 - Fair Value of Financial Instruments for additional discussion. (2) Includes $(5,036) of centrally-cleared interest rate swap contracts.
Schedule of Derivative Instruments, Gain (Loss)	The following table represents the information regarding our derivatives which are included in Gain on derivatives, net in the accompanying consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. Income (Loss) Recognized For the Years Ended Derivatives December 31, 2024 December 31, 2023 December 31, 2022 Interest rate swap contracts (1) $ 245,537 $ 58,300 $ 852,913 Futures contracts 21,569 (30,645) 95,509 TBA Agency Securities 56,394 24,093 (137,614) Total Gain on Derivatives, net $ 323,500 $ 51,748 $ 810,808 (1)
Schedule of Derivative Instruments	The following tables present information about our derivatives at December 31, 2024 and December 31, 2023. We did not have any TBA Agency Securities at December 31, 2024. Interest Rate Swap Contracts (1) Notional Amount Weighted Average Remaining Term (Months) Weighted Average Rate December 31, 2024 < 3 years $ 1,255,000 24 0.60 % ≥ 3 years and < 5 years 604,000 58 0.49 % ≥ 5 years and < 7 years 2,648,000 71 0.85 % ≥ 7 years 2,725,000 108 3.20 % Total or Weighted Average (2) $ 7,232,000 76 1.66 % December 31, 2023 < 3 years $ 1,102,000 18 1.60 % ≥ 3 years and < 5 years 1,207,000 45 2.06 % ≥ 5 years and < 7 years 1,952,000 75 0.58 % ≥ 7 years 2,525,000 95 1.56 % Total or Weighted Average (3) $ 6,786,000 68 1.37 % (1) Pay Fixed/Receive Variable. (2) Of this amount, $2,225,000 notional are SOFR based swaps, the last of which matures in 2034; and $5,007,000 notional are Federal Funds Rate based swaps, the last of which matures in 2032. Of this amount, $2,025,000 notional are centrally-cleared interest rate swap contracts, the last of which matures in 2034. (3) Of this amount, $1,475,000 notional are SOFR based swaps, the last of which matures in 2033; and $5,311,000 notional are Federal Funds Rate based swaps, the last of which matures in 2032. Of this amount, $1,275,000 notional are centrally-cleared interest rate swap contracts, the last of which matures in 2033. TBA Agency Securities Notional Amount Cost Basis Fair Value December 31, 2023 30 Year Long, 6.0% 300,000 303,223 305,039 Total $ 300,000 $ 303,223 $ 305,039

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Contractual Management Fee Commitments Obligation	Based on the management fee base, gross equity raised, as of December 31, 2024, the Company’s contractual management fee commitments, prior to management fees waived, are: Year Contractual Management Fee 2025 $ 41,242 2026 41,242 2027 41,242 2028 41,242 2029 41,242 Total $ 206,210

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	Transactions related to awards for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 are summarized below: For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Number of Awards Weighted Number of Awards Weighted Number of Awards Weighted Unvested RSU Awards Outstanding beginning of period 298 $ 38.21 114 $ 64.40 165 $ 70.35 Granted (1) — $ — 260 $ 29.65 — $ — Vested (73) $ 48.90 (76) $ 48.24 (51) $ 83.60 Forfeited (55) $ 29.65 — $ — — $ — Unvested RSU Awards Outstanding end of period 170 $ 36.38 298 $ 38.21 114 $ 64.40 (1) During the year ended December 31, 2023, 196 RSUs were granted to certain officers of ARMOUR and 64 RSUs were granted to the Board.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Dividends Payable	The following table presents the components of cumulative distributions to stockholders at December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended Cumulative Distributions to Stockholders December 31, 2024 December 31, 2023 December 31, 2022 Preferred dividends $ 168,791 $ 156,809 $ 144,827 Common stock dividends 2,214,748 2,063,758 1,847,534 Total $ 2,383,539 $ 2,220,567 $ 1,992,361
Schedule of Equity Transactions	The following tables present our equity transactions for the years ended December 31, 2024 , December 31, 2023 and December 31, 2022. Transaction Type Completion Date Number of Shares Per Share price (1) Net Proceeds (Costs) December 31, 2024 2023 Common stock ATM Sales Agreement July 26, 2024 - December 27, 2024 13,619 $ 19.50 $ 265,614 DRIP shares issued January 25, 2024 - December 30, 2024 5 $ 18.95 $ 86 Common stock repurchased January 22, 2024 - January 25, 2024 (70) $ 19.31 $ (1,344) December 31, 2023 2021 Common stock ATM Sales Agreement January 4, 2023 - July 12, 2023 13,305 $ 27.66 $ 367,997 2023 Common stock ATM Sales Agreement July 26, 2023 - September 29, 2023 3,328 $ 24.66 $ 82,100 DRIP shares issued July 25, 2023 - September 29, 2023 3 $ 19.71 $ 51 Common stock repurchased March, May and September, October and November (477) $ 20.80 $ (9,935) Transaction Type Completion Date Number of Shares Per Share price (1) Net Proceeds (Costs) December 31, 2022 2021 Common stock ATM Sales Agreement January 11, 2022 - December 21, 2022 14,008 $ 33.95 $ 475,537 Common stock repurchased June, September and October (296) $ 25.94 $ (7,664) (1) Weighted average price
Schedule of Dividends Transactions	The following table presents our Series C Preferred Stock dividend transactions for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. 2024 Record Date Payment Date Rate per Aggregate January 15, 2024 January 29, 2024 $ 0.14583 $ 998.5 February 15, 2024 February 27, 2024 $ 0.14583 998.5 March 15, 2024 March 27, 2024 $ 0.14583 998.5 April 15, 2024 April 29, 2024 $ 0.14583 998.5 May 15, 2024 May 28, 2024 $ 0.14583 998.5 June 15, 2024 June 27, 2024 $ 0.14583 998.5 July 15, 2024 July 29, 2024 $ 0.14583 998.5 August 15, 2024 August 27, 2024 $ 0.14583 998.5 September 15, 2024 September 27, 2024 $ 0.14583 998.5 October 15, 2024 October 28, 2024 $ 0.14583 998.5 November, 15, 2024 November 27, 2024 $ 0.14583 998.5 December 15, 2024 December 27, 2024 $ 0.14583 998.5 Total dividends paid $ 11,982 2023 Record Date Payment Date Rate per Series C Preferred Share Aggregate January 15, 2023 January 27, 2023 $ 0.14583 998.5 February 15, 2023 February 27, 2023 $ 0.14583 998.5 March 15, 2023 March 27, 2023 $ 0.14583 998.5 April 15, 2023 April 27, 2023 $ 0.14583 998.5 May 15, 2023 May 30, 2023 $ 0.14583 998.5 June 15, 2023 June 27, 2023 $ 0.14583 998.5 July 15, 2023 July 27, 2023 $ 0.14583 998.5 August 15, 2023 August 28, 2023 $ 0.14583 998.5 September 15, 2023 September 27, 2023 $ 0.14583 998.5 October 15, 2023 October 27, 2023 $ 0.14583 998.5 November, 15, 2023 November 27, 2023 $ 0.14583 998.5 December 15, 2023 December 27, 2023 $ 0.14583 998.5 Total dividends paid $ 11,982 2022 Record Date Payment Date Rate per Series C Preferred Share Aggregate January 15, 2022 January 27, 2022 $ 0.14583 998.5 February 15, 2022 February 28, 2022 $ 0.14583 998.5 March 15, 2022 March 28, 2022 $ 0.14583 998.5 April 15, 2022 April 27, 2022 $ 0.14583 998.5 May 15, 2022 May 27, 2022 $ 0.14583 998.5 June 15, 2022 June 27, 2022 $ 0.14583 998.5 July 15, 2022 July 27, 2022 $ 0.14583 998.5 August 15, 2022 August 29, 2022 $ 0.14583 998.5 September 15, 2022 September 27, 2022 $ 0.14583 998.5 October 15, 2022 October 27, 2022 $ 0.14583 998.5 November 15, 2022 November 28, 2022 $ 0.14583 998.5 December 15, 2022 December 27, 2022 $ 0.14583 998.5 Total dividends paid $ 11,982 The following tables present our common stock dividend transactions for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. 2024 Record Date Payment Date Rate per common share Aggregate January 16, 2024 January 30, 2024 $ 0.24 $ 11,787 February 15, 2024 February 28, 2024 $ 0.24 11,770 March 15, 2024 March 28, 2024 $ 0.24 11,755 April 15, 2024 April 29, 2024 $ 0.24 11,756 May 15, 2024 May 28, 2024 $ 0.24 11,756 June 17, 2024 June 27, 2024 $ 0.24 11,754 July 15, 2024 July 30, 2024 $ 0.24 11,755 August 15, 2024 August 29, 2024 $ 0.24 12,532 September 16, 2024 September 27, 2024 $ 0.24 13,188 October 15, 2024 October 30, 2024 $ 0.24 13,389 November, 15, 2024 November 27, 2024 $ 0.24 14,623 December 16, 2024 December 30, 2024 $ 0.24 14,925 Total dividends paid $ 150,990 2023 Record Date Payment Date Rate per common share Aggregate January 17, 2023 January 30, 2023 $ 0.50 $ 17,007 February 15, 2023 February 27, 2023 $ 0.50 19,471 March 15, 2023 March 28, 2023 $ 0.40 15,526 April 17, 2023 April 27, 2023 $ 0.40 15,788 May 15, 2023 May 30, 2023 $ 0.40 15,964 June 15, 2023 June 29, 2023 $ 0.40 16,585 July 17, 2023 July 28, 2023 $ 0.40 18,405 August 15, 2023 August 30, 2023 $ 0.40 19,123 September 15, 2023 September 28, 2023 $ 0.40 19,310 October 16, 2023 October 30, 2023 $ 0.40 19,730 November, 15, 2023 November 29, 2023 $ 0.40 19,671 December 15, 2023 December 28, 2023 $ 0.40 19,644 Total dividends paid $ 216,224 2022 Record Date Payment Date Rate per common share Aggregate January 18, 2022 January 28, 2022 $ 0.50 $ 9,654 February 15, 2022 February 28, 2022 $ 0.50 9,690 March 15, 2022 March 28, 2022 $ 0.50 9,764 April 18, 2022 April 29, 2022 $ 0.50 10,359 May 16, 2022 May 27, 2022 $ 0.50 10,639 June 15, 2022 June 29, 2022 $ 0.50 11,159 July 15, 2022 July 29, 2022 $ 0.50 11,426 August 15, 2022 August 29, 2022 $ 0.50 12,313 September 15, 2022 September 29, 2022 $ 0.50 13,406 October 17, 2022 October 28, 2022 $ 0.50 13,284 November 15, 2022 November 28, 2022 $ 0.50 14,465 December 15, 2022 December 28, 2022 $ 0.50 16,265 Total dividends paid $ 142,424

Net Income (Loss) per Common _2

Net Income (Loss) per Common Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The following table presents a reconciliation of net loss and the shares used in calculating weighted average basic and diluted earnings per common share for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Net Loss $ (14,394) $ (67,923) $ (229,930) Less: Preferred dividends (11,982) (11,982) (11,982) Net loss related to common stockholders $ (26,376) $ (79,905) $ (241,912) Weighted average common shares outstanding – basic 52,158 43,054 23,594 Add: Effect of dilutive non-vested awards, assumed vested — — — Weighted average common shares outstanding – diluted 52,158 43,054 23,594 Net loss per share related to common stockholders - basic $ (0.51) $ (1.86) $ (10.25) Net loss per share related to common stockholders - diluted $ (0.51) $ (1.86) $ (10.25)

Comprehensive Income (Loss) p_2

Comprehensive Income (Loss) per Common Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents a reconciliation of comprehensive loss and the shares used in calculating weighted average basic and diluted comprehensive loss per common share for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 Comprehensive Loss $ (14,394) $ (56,396) $ (348,430) Less: Preferred dividends (11,982) (11,982) (11,982) Comprehensive Loss related to common stockholders $ (26,376) $ (68,378) $ (360,412) Comprehensive Loss per share related to common stockholders: Basic $ (0.51) $ (1.59) $ (15.28) Diluted $ (0.51) $ (1.59) $ (15.28) Weighted average common shares outstanding: Basic 52,158 43,054 23,594 Add: Effect of dilutive non-vested awards, assumed vested — — — Diluted 52,158 43,054 23,594

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The following table reconciles our GAAP net loss to estimated REIT taxable income (loss) for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 GAAP net loss $ (14,394) $ (67,923) $ (229,930) Book to tax differences: TRS (income) loss (51) 81 (186) Premium amortization expense — (1) (81) Agency Securities, trading 348,646 52,665 946,666 U.S. Treasury Securities (37,602) 43,093 152,268 Changes in interest rate contracts (93,236) 167,963 (757,742) Loss on Security sales — 7,471 7,452 Impairment losses on available for sale Agency Securities — — 4,183 Amortization of deferred hedging costs (82,209) (103,669) (145,267) Amortization of deferred Treasury Future gains 16,753 23,161 3,383 Other 2,134 1,876 2,340 Estimated REIT taxable income (loss) $ 140,041 $ 124,717 $ (16,914)
Schedule of Tax Credit Carryforwards	Net capital losses realized Amount Available to offset capital gains through 2021 (15,606) 2026 2022 (732,477) 2027 2023 (472,002) 2028 2024 (46,823) 2029

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table reconciles the fees incurred in accordance with the management agreement for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. For the Years Ended December 31, 2024 December 31, 2023 December 31, 2022 ARMOUR management fees $ 39,726 $ 38,121 $ 33,714 Less management fees waived (6,600) (6,600) (7,800) Total management fee expense $ 33,126 $ 31,521 $ 25,914

Organization and Nature of Bu_2

Organization and Nature of Business Operations (Details)	Dec. 31, 2024
BUCKLER Securities, LLC | Corporate Joint Venture
Investments in and Advances to Affiliates [Line Items]
Ownership percentage	10.80%

Basis of Presentation and Con_2

Basis of Presentation and Consolidation (Details)	Sep. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Conversion ratio of reverse stock split	0.2

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Realized loss on sale of available for sale Agency Securities (reclassified from Other comprehensive loss)	$ 0	$ (7,471)	$ (7,452)
Reverse repurchase agreements	498,250	353,937
Obligations to return securities received as collateral, at fair value	493,433	350,273
Reverse Repurchase Agreements
Related Party Transaction [Line Items]
Reverse repurchase agreements	498,250	$ 353,937
Reverse Repurchase Agreements | BUCKLER Securities, LLC
Related Party Transaction [Line Items]
Reverse repurchase agreements	$ 447,063

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 dealer
Fair Value Disclosures [Abstract]
Trading securities, number of dealers	3

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets at Fair Value:
Derivatives	$ 908,063	$ 877,412
Liabilities at Fair Value:
Obligations to return securities as collateral	493,433	350,273
Derivatives	1,285	5,036
Fair Value, Measurements, Recurring
Assets at Fair Value:
Agency Securities	12,439,414	11,159,754
Derivatives	908,063	877,412
Liabilities at Fair Value:
Obligations to return securities as collateral	493,433	350,273
Derivatives	1,285	5,036
Level 1 | Fair Value, Measurements, Recurring
Assets at Fair Value:
Agency Securities	0	0
Derivatives	13,300	0
Liabilities at Fair Value:
Obligations to return securities as collateral	0	0
Derivatives	328	0
Level 2 | Fair Value, Measurements, Recurring
Assets at Fair Value:
Agency Securities	12,439,414	11,159,754
Derivatives	894,763	877,412
Liabilities at Fair Value:
Obligations to return securities as collateral	493,433	350,273
Derivatives	957	5,036
Level 3 | Fair Value, Measurements, Recurring
Assets at Fair Value:
Agency Securities	0	0
Derivatives	0	0
Liabilities at Fair Value:
Obligations to return securities as collateral	0	0
Derivatives	$ 0	$ 0

Investments in Securities - Add

Investments in Securities - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Debt securities	$ 12,439,414	$ 11,159,754
Realized gain (loss) on sale of available for sale agency securities	0	(7,471)	$ (7,452)
To-be-Announced Agency Securities
Debt Securities, Available-for-sale [Line Items]
Derivative assets (liabilities), net	(908)	1,816
TBA Agency Securities
Debt Securities, Available-for-sale [Line Items]
Trading securities	$ 0	$ 305,039

Investments in Securities - Sch

Investments in Securities - Schedule of Available-for-sale Securities in an Unrealized Gain or Loss Position (Details) - Agency Securities - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Principal Amount	$ 12,957,039	$ 11,278,161
Amortized Cost	12,806,504	11,283,380
Gross Unrealized Loss	(370,044)	(176,660)
Gross Unrealized Gain	2,954	53,034
Fair Value	$ 12,439,414	$ 11,159,754

Investments in Securities - S_2

Investments in Securities - Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value
Less than 1 year	$ 0	$ 0
Greater than or equal to 1 year and less than 3 years	0	202,508
Greater than or equal to 3 years and less than 5 years	1,329,834	2,757,464
Greater than or equal to 5 years	11,109,580	8,199,782
Totals	12,439,414	11,159,754
Amortized Cost
Less than 1 year	0	0
Greater than or equal to 1 year and less than 3 years	0	195,904
Greater than or equal to 3 years and less than 5 years	1,341,663	2,747,842
Greater than or equal to 5 years	11,464,841	8,339,634
Totals	$ 12,806,504	$ 11,283,380

Repurchase Agreements, net - Ad

Repurchase Agreements, net - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) counterparty	Dec. 31, 2023 USD ($) counterparty
Concentration Risk [Line Items]
Number of counterparties with master repurchase agreements	33	39
Repurchase agreements, carrying amount | $	$ 10,713,830	$ 9,647,982
Number of counterparties with repurchase agreements outstanding	17	14
Ratio of indebtedness to net capital	12
Counterparty Concentration Risk | Aggregate Borrowings
Concentration Risk [Line Items]
Number of counterparties	3	4
Counterparty Concentration Risk | BUCKLER Securities, LLC | Aggregate Borrowings
Concentration Risk [Line Items]
Percentage of concentration risk	45.70%	48.40%
Counterparty Concentration Risk | BUCKLER Securities, LLC | Stockholders' Equity
Concentration Risk [Line Items]
Percentage of concentration risk	8%	8.10%
Weighted average maturity (in days)	15 days	12 days
Counterparty Concentration Risk | One Repurchase Agreement Counterparty | Aggregate Borrowings
Concentration Risk [Line Items]
Percentage of concentration risk	5%
Counterparty Concentration Risk | One Repurchase Agreement Counterparty | Repurchase Agreement Borrowings
Concentration Risk [Line Items]
Percentage of concentration risk	19.90%
Counterparty Concentration Risk | Two Repurchase Agreement Counterparties | Aggregate Borrowings
Concentration Risk [Line Items]
Percentage of concentration risk		5%
Counterparty Concentration Risk | Two Repurchase Agreement Counterparties | Repurchase Agreement Borrowings
Concentration Risk [Line Items]
Percentage of concentration risk		27.20%
Collateralized Mortgage-Backed Securities
Concentration Risk [Line Items]
Average haircut (as a percent)	2.77%	2.74%

Repurchase Agreements, net - Sc

Repurchase Agreements, net - Schedule of Repurchase Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Assets Sold under Agreements to Repurchase [Line Items]
Balance	$ 10,713,830	$ 9,647,982
Reverse repurchase agreements	498,250	353,937
Obligations to return securities as collateral	493,433	350,273
Reverse Repurchase Agreements
Assets Sold under Agreements to Repurchase [Line Items]
Reverse repurchase agreements	498,250	353,937
Reverse Repurchase Agreements | BUCKLER Securities, LLC
Assets Sold under Agreements to Repurchase [Line Items]
Reverse repurchase agreements	447,063
Agency securities
Assets Sold under Agreements to Repurchase [Line Items]
Balance	$ 10,713,830	$ 9,647,982
Weighted Average Contractual Rate	4.72%	5.54%
Weighted Average Maturity in days	17 days	12 days
≤ 30 days | Agency securities
Assets Sold under Agreements to Repurchase [Line Items]
Balance	$ 10,466,630	$ 9,647,982
Weighted Average Contractual Rate	4.72%	5.54%
Weighted Average Maturity in days	17 days	12 days
> 30 days to ≤ 60 days | Agency securities
Assets Sold under Agreements to Repurchase [Line Items]
Balance	$ 247,200
Weighted Average Contractual Rate	4.63%
Weighted Average Maturity in days	31 days

Repurchase Agreements, net - _2

Repurchase Agreements, net - Schedule of Reverse Repurchase Agreements Gross and Net Securities Purchased and Sold (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets Sold under Agreements to Repurchase [Line Items]
Gross Amounts, Assets	$ 498,250	$ 353,937
Gross Amounts offset in the Consolidated Balance Sheet, Assets	(498,250)	(353,937)
Net Amounts Presented in the Consolidated Balance Sheet, Assets	0	0
Gross Amounts Not Offset Financial Instruments, Assets	0	0
Gross Amounts Not Offset Cash Collateral, Assets	0	0
Total Net, Assets	0	0
Gross Amounts, Liabilities	(11,212,080)	(10,001,919)
Gross Amounts offset in the Consolidated Balance Sheet, Liabilities	498,250	353,937
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	(10,713,830)	(9,647,982)
Gross Amounts Not Offset Financial Instruments, Liabilities	10,713,830	9,647,982
Gross Amounts Not Offset Cash Collateral, Liabilities	0	0
Total Net, Liabilities	0	0
Agency Securities
Assets Sold under Agreements to Repurchase [Line Items]
Pledged securities	11,796,858	10,599,340
Reverse Repurchase Agreements
Assets Sold under Agreements to Repurchase [Line Items]
Gross Amounts, Assets	498,250	353,937
Gross Amounts offset in the Consolidated Balance Sheet, Assets	(498,250)	(353,937)
Net Amounts Presented in the Consolidated Balance Sheet, Assets	0	0
Gross Amounts Not Offset Financial Instruments, Assets	0	0
Gross Amounts Not Offset Cash Collateral, Assets	0	0
Total Net, Assets	0	0
Gross Amounts, Liabilities	(11,212,080)	(10,001,919)
Gross Amounts offset in the Consolidated Balance Sheet, Liabilities	498,250	353,937
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	(10,713,830)	(9,647,982)
Gross Amounts Not Offset Financial Instruments, Liabilities	10,713,830	9,647,982
Gross Amounts Not Offset Cash Collateral, Liabilities	0	0
Total Net, Liabilities	$ 0	$ 0

Derivatives - Additional Inform

Derivatives - Additional Information (Details)	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Ratio of indebtedness to net capital	12

Derivatives - Schedule of Offse

Derivatives - Schedule of Offsetting Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Offsetting Assets [Line Items]
Gross Amounts	$ 908,063	$ 877,412
Financial Instruments	(1,285)	(6,852)
Cash Collateral	(755,643)	(821,089)
Total Net	151,135	49,471
Interest rate swap contracts
Offsetting Assets [Line Items]
Gross Amounts	894,714	875,596
Financial Instruments	0	(5,036)
Cash Collateral	(781,923)	(821,089)
Total Net	112,791	49,471
Derivative asset, centrally-cleared	47,045	6,104
Futures contracts
Offsetting Assets [Line Items]
Gross Amounts	13,300
Financial Instruments	(328)
Cash Collateral	24,702
Total Net	37,674
TBA Agency Securities
Offsetting Assets [Line Items]
Gross Amounts	49	1,816
Financial Instruments	(957)	(1,816)
Cash Collateral	1,578	0
Total Net	$ 670	$ 0

Derivatives - Schedule of Off_2

Derivatives - Schedule of Offsetting Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Offsetting Liabilities [Line Items]
Gross Amounts	$ (1,285)	$ (5,036)
Financial Instruments	1,285	6,852
Cash Collateral	0	(2,070)
Total Net	0	(254)
Interest rate swap contracts
Offsetting Liabilities [Line Items]
Gross Amounts		(5,036)
Financial Instruments		5,036
Cash Collateral		0
Total Net		0
Derivative liability, centrally-cleared		(5,036)
Futures contracts
Offsetting Liabilities [Line Items]
Gross Amounts	(328)
Financial Instruments	328
Cash Collateral	0
Total Net	0
TBA Agency Securities
Offsetting Liabilities [Line Items]
Gross Amounts	(957)	0
Financial Instruments	957	1,816
Cash Collateral	0	(2,070)
Total Net	$ 0	$ (254)

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivative Instruments, Gain (Loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total Gain on Derivatives, net	[1]	$ 323,500	$ 51,748	$ 810,808
Interest rate swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total Gain on Derivatives, net		245,537	58,300	852,913
Centrally-cleared		42,102	36,547
Futures contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total Gain on Derivatives, net		21,569	(30,645)	95,509
TBA Agency Securities
Derivative Instruments, Gain (Loss) [Line Items]
Total Gain on Derivatives, net		$ 56,394	$ 24,093	$ (137,614)
[1]Interest income and expense related to our interest rate swap contracts is recorded in gain on derivatives, net on the consolidated statements of operations and comprehensive income (loss). For additional information, see financial statement Note 8.

Derivatives - Schedule of Der_2

Derivatives - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Notional Amount	$ 7,232,000	$ 6,786,000
Weighted Average Remaining Term (Months)	76 months	68 months
Weighted Average Rate	1.66%	1.37%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Derivatives Current Year
Derivative [Line Items]
Notional Amount	$ 2,225,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Derivatives Prior Year
Derivative [Line Items]
Notional Amount		$ 1,475,000
Fed Funds Effective Rate Overnight Index Swap Rate | Derivatives Current Year
Derivative [Line Items]
Notional Amount	5,007,000
Fed Funds Effective Rate Overnight Index Swap Rate | Derivatives Prior Year
Derivative [Line Items]
Notional Amount		5,311,000
Less than 3 years
Derivative [Line Items]
Notional Amount	$ 1,255,000	$ 1,102,000
Weighted Average Remaining Term (Months)	24 months	18 months
Weighted Average Rate	0.60%	1.60%
Greater than or equal to 3 years and less than 5 years
Derivative [Line Items]
Notional Amount	$ 604,000	$ 1,207,000
Weighted Average Remaining Term (Months)	58 months	45 months
Weighted Average Rate	0.49%	2.06%
Greater than or equal to 5 years and less than 7 years
Derivative [Line Items]
Notional Amount	$ 2,648,000	$ 1,952,000
Weighted Average Remaining Term (Months)	71 months	75 months
Weighted Average Rate	0.85%	0.58%
Greater than 7 years
Derivative [Line Items]
Notional Amount	$ 2,725,000	$ 2,525,000
Weighted Average Remaining Term (Months)	108 months	95 months
Weighted Average Rate	3.20%	1.56%
Interest rate swap contracts | Derivatives Current Year
Derivative [Line Items]
Notional Amount	$ 2,025,000
Interest rate swap contracts | Derivatives Prior Year
Derivative [Line Items]
Notional Amount		$ 1,275,000
Maximum | Less than 3 years
Derivative [Line Items]
Derivative, remaining maturity (in years)	3 years	3 years
Maximum | Greater than or equal to 3 years and less than 5 years
Derivative [Line Items]
Derivative, remaining maturity (in years)	5 years	5 years
Maximum | Greater than or equal to 5 years and less than 7 years
Derivative [Line Items]
Derivative, remaining maturity (in years)	7 years	7 years
Minimum | Greater than or equal to 3 years and less than 5 years
Derivative [Line Items]
Derivative, remaining maturity (in years)	3 years	3 years
Minimum | Greater than or equal to 5 years and less than 7 years
Derivative [Line Items]
Derivative, remaining maturity (in years)	5 years	5 years
Minimum | Greater than 7 years
Derivative [Line Items]
Derivative, remaining maturity (in years)	7 years	7 years

Derivatives - Schedule of TBA A

Derivatives - Schedule of TBA Agency Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Notional Amount	$ 7,232,000	$ 6,786,000
TBA Agency Securities 30 Year 6.0%
Derivative [Line Items]
Derivative, fixed interest rate		6%
Notional Amount		$ 300,000
Cost Basis		303,223
Fair Value		305,039
TBA Agency Securities
Derivative [Line Items]
Notional Amount		300,000
Cost Basis		303,223
Fair Value		$ 305,039

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands				12 Months Ended
	Apr. 25, 2016 lawsuit	Apr. 24, 2016 defendant	Mar. 01, 2016 lawsuit	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 14, 2023 USD ($)
Other Commitments [Line Items]
Monthly percentage of effective management fee percentage				8.33%
Gross equity raised				$ 4,498,880	$ 4,231,965	$ 3,787,042
Fee waiver adjustment, every month thereafter							$ 550
Termination fee contractual ratio				4
Transactions Case
Other Commitments [Line Items]
Number of new claims filed | lawsuit			9
Number of defendants, current directors | defendant		8
Number of consolidated claims | lawsuit	1
Management Fees Waived
Other Commitments [Line Items]
Amounts of transaction				$ 6,600	$ 6,600	$ 7,800
ACM
Other Commitments [Line Items]
Percentage of gross equity raised used in calculation of management fee up to 1 Billion				1.50%
Percentage of gross equity raised used in calculation of management fee in excess of 1 Billion				0.75%
ACM | Prior to Management Fees Waived
Other Commitments [Line Items]
Effective management fee (as percent)				0.92%	0.93%	0.95%
ACM | Management Fees Waived
Other Commitments [Line Items]
Effective management fee (as percent)				0.77%	0.77%	0.74%

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Contractual Management Fee Commitments Obligation (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 41,242
2026	41,242
2027	41,242
2028	41,242
2029	41,242
Contractual Obligation, Total	$ 206,210

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonemployee services transaction, quarterly fee	$ 33
The 2009 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capital shares reserved for future issuance (in shares)	228
Compensation cost not yet recognized	$ 6,185
Compensation cost not yet recognized, year one	1,987
Compensation cost not yet recognized, year two	1,793
Compensation cost not yet recognized, thereafter	$ 2,405
The 2009 Stock Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSU awards outstanding (in dollars per share)	$ 36.38	$ 38.21	$ 64.40	$ 70.35

Stock Based Compensation - Sche

Stock Based Compensation - Schedule of Restricted Stock Units (Details) - Restricted Stock Units (RSUs) - The 2009 Stock Incentive Plan - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Awards
Unvested RSU Awards Outstanding beginning of period (in shares)	298	114	165
Granted (in shares)	0	260	0
Vested (in shares)	(73)	(76)	(51)
Forfeited (in shares)	(55)	0	0
Unvested RSU Awards Outstanding end of period (in shares)	170	298	114
Weighted Average Grant Date Fair Value per Award
Unvested RSU Awards Outstanding beginning of period (in dollars per share)	$ 38.21	$ 64.40	$ 70.35
Granted (in dollars per share)	0	29.65	0
Vested (in dollars per share)	48.90	48.24	83.60
Forfeited (in dollars per share)	29.65	0	0
Unvested RSU Awards Outstanding end of period (in dollars per share)	$ 36.38	$ 38.21	$ 64.40
Certain Officers of ARMOUR
Number of Awards
Granted (in shares)		196
Board of Directors
Number of Awards
Granted (in shares)		64

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Dividends Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Cumulative distributions to stockholders	$ 2,383,539	$ 2,220,567	$ 1,992,361
Preferred dividends
Class of Stock [Line Items]
Cumulative distributions to stockholders	168,791	156,809	144,827
Common Stock
Class of Stock [Line Items]
Cumulative distributions to stockholders	$ 2,214,748	$ 2,063,758	$ 1,847,534

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details)																	1 Months Ended																																						12 Months Ended
	Mar. 17, 2025 $ / shares	Mar. 15, 2025 $ / shares	Feb. 15, 2025 $ / shares	Feb. 14, 2025 $ / shares	Jan. 30, 2025 USD ($) $ / shares	Jan. 27, 2025 USD ($) $ / shares	Aug. 23, 2024 shares	Sep. 29, 2023	Jul. 26, 2023 $ / shares shares	Jan. 17, 2023 shares	Nov. 04, 2022 shares	Jun. 09, 2022 shares	Nov. 12, 2021 shares	May 14, 2021 $ / shares shares	Jan. 29, 2020 shares	Jan. 28, 2020 $ / shares shares	Feb. 04, 2025 USD ($) shares	Jan. 23, 2025 USD ($) shares	Dec. 31, 2024 USD ($) $ / shares shares	Nov. 30, 2024 $ / shares	Oct. 31, 2024 $ / shares	Sep. 30, 2024 $ / shares	Aug. 31, 2024 $ / shares	Jul. 31, 2024 $ / shares	Jun. 30, 2024 $ / shares	May 31, 2024 $ / shares	Apr. 30, 2024 $ / shares	Mar. 31, 2024 $ / shares	Feb. 29, 2024 $ / shares	Jan. 31, 2024 $ / shares	Dec. 31, 2023 USD ($) $ / shares shares	Nov. 30, 2023 $ / shares	Oct. 31, 2023 $ / shares	Sep. 30, 2023 $ / shares	Aug. 31, 2023 $ / shares	Jul. 31, 2023 $ / shares	Jun. 30, 2023 $ / shares	May 31, 2023 $ / shares	Apr. 30, 2023 $ / shares	Mar. 31, 2023 $ / shares	Feb. 28, 2023 $ / shares	Jan. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares shares	Nov. 30, 2022 $ / shares	Oct. 31, 2022 $ / shares	Sep. 30, 2022 $ / shares	Aug. 31, 2022 $ / shares	Jul. 31, 2022 $ / shares	Jun. 30, 2022 $ / shares	May 31, 2022 $ / shares	Apr. 30, 2022 $ / shares	Mar. 31, 2022 $ / shares	Feb. 28, 2022 $ / shares	Jan. 31, 2022 $ / shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Oct. 30, 2023 shares	Jul. 26, 2022 shares	Dec. 31, 2021 shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)																			50,000,000												50,000,000																								50,000,000	50,000,000
Preferred stock, par value (in dollars per share) | $ / shares																			$ 0.001												$ 0.001																								$ 0.001	$ 0.001
Preferred stock, undesignated shares authorized (in shares)																			40,000,000																																				40,000,000
Preferred stock, shares outstanding (in shares)																			6,847,000												6,847,000																								6,847,000	6,847,000
Preferred stock, shares issued (in shares)																			6,847,000												6,847,000																								6,847,000	6,847,000
Preferred stock, aggregate liquidation preference | $																			$ 171,175,000												$ 171,175,000																								$ 171,175,000	$ 171,175,000
Stock repurchase program, number of shares authorized to be repurchased( in shares)																																																											2,000,000
Common stock repurchased (in shares)																																																							0	0	0
Conversion ratio of reverse stock split								0.2
Common stock, shares authorized (in shares)																			125,000,000												90,000,000																								125,000,000	90,000,000
Common stock, par value (in dollars per share) | $ / shares																			$ 0.001												$ 0.001																								$ 0.001	$ 0.001
Common stock, shares outstanding (in shares)																			62,412,000												48,799,000																								62,412,000	48,799,000
Common stock, shares issued (in shares)																			62,412,000												48,799,000																								62,412,000	48,799,000
Issuance of common stock, net of expenses | $																																																							$ 265,660,000	$ 450,117,000	$ 475,537,000
Common stock repurchased | $																																																							1,344,000	9,935,000	7,664,000
Aggregate amount paid to holders of record | $																																																							$ 150,950,000	$ 216,193,000	$ 142,424,000
Dividends declared per common share (in dollars per share) | $ / shares																																																							$ 2.88	$ 5	$ 6
Subsequent Event
Class of Stock [Line Items]
Issuance of preferred stock, net of expenses | $																		$ 362,000
Payments of stock issuance costs | $																		$ 23,000
Aggregate amount paid to holders of record | $					$ 16,009,000
Common stock dividends cash paid (in dollars per share) | $ / shares					$ 0.24
Dividends declared per common share (in dollars per share) | $ / shares	$ 0.24			$ 0.24
Common Stock
Class of Stock [Line Items]
Common stock repurchased (in shares)																																																							70,000	477,000	296,000
Common stock, shares outstanding (in shares)																			62,412,000												48,799,000												32,582,000												62,412,000	48,799,000	32,582,000			18,831,000
Common Stock Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased( in shares)																																																										2,217,000
Remaining shares authorized to be repurchased (in shares)																															2,287,000																									2,287,000
Common Stock Repurchase Program | Common Stock
Class of Stock [Line Items]
Common stock repurchased (in shares)																																																							70,000	466,000
Common stock repurchased | $																																																							$ 1,344,000	$ 9,702,000
Reverse Stock Split | Common Stock
Class of Stock [Line Items]
Common stock repurchased (in shares)																																																								11,000
Common stock repurchased | $																																																								$ 233,000
2021 Common Stock ATM Sales Agreement
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares														$ 0.001
Number of shares issued in transaction (in shares)														3,400,000
Common stock, additional shares authorized (in shares)										9,736,000	7,000,000	5,760,000	5,000,000
Sale of stock, commission rate (as percent)														2%
2023 Common stock ATM Sales Agreement
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares									$ 0.001
Number of shares issued in transaction (in shares)									15,000,000
Common stock, additional shares authorized (in shares)							25,000,000
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)																10,000,000
Preferred stock, par value (in dollars per share) | $ / shares																$ 0.001			$ 0.001												$ 0.001																								$ 0.001	$ 0.001
Preferred stock, dividend rate (as percent)																7%																																							7%	7%
Preferred stock, shares outstanding (in shares)																			6,847,000												6,847,000																								6,847,000	6,847,000
Preferred stock, shares issued (in shares)																			6,847,000												6,847,000																								6,847,000	6,847,000
Preferred stock, liquidation preference per share (in dollars per share) | $ / shares																			$ 25												$ 25																								$ 25	$ 25
Preferred stock, aggregate liquidation preference | $																			$ 171,175,000												$ 171,175,000																								$ 171,175,000	$ 171,175,000
Accrued or unpaid dividends | $																			$ 0												$ 0																								$ 0	$ 0
Unissued preferred stock (in shares)																			3,153,000																																				3,153,000
Preferred stock dividends cash paid (in dollars per share) | $ / shares																			$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583
Series C Preferred Stock | Subsequent Event
Class of Stock [Line Items]
Preferred stock dividends cash paid (in dollars per share) | $ / shares		$ 0.14583	$ 0.14583			$ 0.14583
Aggregate amount paid to holders of record | $						$ 998,000
Series C Preferred Stock | Preferred C ATM Sales Agreement
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)															6,550,000
Percent of outstanding shares intended to be redeemed															2%
Series C Preferred Stock | Preferred C ATM Sales Agreement | Subsequent Event
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)																		17,000
Common Stock
Class of Stock [Line Items]
Common stock repurchased (in shares)																																																							70,000	477,000
DRIP shares issued (in shares)																																																							5,000	3,000
DRIP shares issued | $																																																							$ 86,000	$ 51,000
Common stock repurchased | $																																																							$ 1,344,000	$ 9,935,000
Common stock dividends cash paid (in dollars per share) | $ / shares																			$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50
Common Stock | 2021 Common Stock ATM Sales Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)																																																							13,305,000	13,305,000	14,008,000
Payments of stock issuance costs | $																																																							$ 3,725,000
Issuance of common stock, net of expenses | $																																																							$ 367,997,000	$ 367,997,000	$ 475,537,000
Common Stock | 2023 Common stock ATM Sales Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)																																																							13,619,000	3,328,000
Issuance of preferred stock, net of expenses | $																																																							$ 265,614,000
Payments of stock issuance costs | $																																																							2,545,000	$ 903,000
Issuance of common stock, net of expenses | $																																																							$ 265,614,000	$ 82,100,000
Common Stock | 2023 Common stock ATM Sales Agreement | Subsequent Event
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)																	14,002,000
Payments of stock issuance costs | $																	$ 2,013,000
Issuance of common stock, net of expenses | $																	$ 258,965,000

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Equity Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Jul. 26, 2023	May 14, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common stock repurchased (in shares)			0	0	0
Proceeds from issuance of common stock			$ 265,660	$ 450,117	$ 475,537
Payments for common stock repurchased			$ (1,344)	$ (9,935)	$ (7,664)
2021 Common Stock ATM Sales Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)		3,400,000
2023 Common stock ATM Sales Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)	15,000,000
Common Stock
Class of Stock [Line Items]
Common stock repurchased (in shares)			70,000	477,000
Per Share price (in dollars per share)			$ 19.31	$ 20.80
DRIP shares issued (in shares)			5,000	3,000
DRIP shares issued (in dollars per share)			$ 18.95	$ 19.71
DRIP shares issued			$ 86	$ 51
Payments for common stock repurchased			$ (1,344)	$ (9,935)
Common Stock | 2021 Common Stock ATM Sales Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)			13,305,000	13,305,000	14,008,000
Per Share price (in dollars per share)				$ 27.66	$ 33.95
Proceeds from issuance of common stock			$ 367,997	$ 367,997	$ 475,537
Common Stock | 2023 Common stock ATM Sales Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)			13,619,000	3,328,000
Per Share price (in dollars per share)			$ 19.50	$ 24.66
Proceeds from issuance of common stock			$ 265,614	$ 82,100
Common Stock | Common stock ATM Sales Agreement
Class of Stock [Line Items]
Common stock repurchased (in shares)					296,000
Per Share price (in dollars per share)					$ 25.94
Payments for common stock repurchased					$ (7,664)

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Dividend Transactions (Details) - USD ($)	1 Months Ended																																				12 Months Ended
	Dec. 31, 2024	Nov. 30, 2024	Oct. 31, 2024	Sep. 30, 2024	Aug. 31, 2024	Jul. 31, 2024	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Mar. 31, 2024	Feb. 29, 2024	Jan. 31, 2024	Dec. 31, 2023	Nov. 30, 2023	Oct. 31, 2023	Sep. 30, 2023	Aug. 31, 2023	Jul. 31, 2023	Jun. 30, 2023	May 31, 2023	Apr. 30, 2023	Mar. 31, 2023	Feb. 28, 2023	Jan. 31, 2023	Dec. 31, 2022	Nov. 30, 2022	Oct. 31, 2022	Sep. 30, 2022	Aug. 31, 2022	Jul. 31, 2022	Jun. 30, 2022	May 31, 2022	Apr. 30, 2022	Mar. 31, 2022	Feb. 28, 2022	Jan. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Aggregate amount paid to holders of record																																					$ 150,990,000	$ 216,224,000	$ 142,424,000
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends cash paid (in dollars per share)	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583	$ 0.14583
Payments of dividends	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	$ 998,500	11,982,000	11,982,000	11,982,000
Common Stock
Class of Stock [Line Items]
Common stock dividends cash paid (in dollars per share)	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.40	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50
Aggregate amount paid to holders of record	$ 14,925,000	$ 14,623,000	$ 13,389,000	$ 13,188,000	$ 12,532,000	$ 11,755,000	$ 11,754,000	$ 11,756,000	$ 11,756,000	$ 11,755,000	$ 11,770,000	$ 11,787,000	$ 19,644,000	$ 19,671,000	$ 19,730,000	$ 19,310,000	$ 19,123,000	$ 18,405,000	$ 16,585,000	$ 15,964,000	$ 15,788,000	$ 15,526,000	$ 19,471,000	$ 17,007,000	$ 16,265,000	$ 14,465,000	$ 13,284,000	$ 13,406,000	$ 12,313,000	$ 11,426,000	$ 11,159,000	$ 10,639,000	$ 10,359,000	$ 9,764,000	$ 9,690,000	$ 9,654,000	$ 150,990,000	$ 216,224,000	$ 142,424,000

Net Income (Loss) per Common _3

Net Income (Loss) per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net Loss	$ (14,394)	$ (67,923)	$ (229,930)
Less: Preferred dividends	(11,982)	(11,982)	(11,982)
Net loss related to common stockholders	$ (26,376)	$ (79,905)	$ (241,912)
Weighted average common shares outstanding – basic (in shares)	52,158	43,054	23,594
Add: Effect of dilutive non-vested awards, assumed vested (in shares)	0	0	0
Weighted average common shares outstanding – diluted (in shares)	52,158	43,054	23,594
Net loss per share related to common stockholders - Basic (in dollars per share)	$ (0.51)	$ (1.86)	$ (10.25)
Net loss per share related to common stockholders - Diluted (in dollars per share)	$ (0.51)	$ (1.86)	$ (10.25)
Potentially dilutive non-vested awards outstanding (in shares)	170	298	114

Comprehensive Income (Loss) p_3

Comprehensive Income (Loss) per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Comprehensive Loss	$ (14,394)	$ (56,396)	$ (348,430)
Less: Preferred dividends	(11,982)	(11,982)	(11,982)
Comprehensive Loss related to common stockholders	$ (26,376)	$ (68,378)	$ (360,412)
Comprehensive Loss per share related to common stockholders:
Basic (in dollars per share)	$ (0.51)	$ (1.59)	$ (15.28)
Diluted (in dollars per share)	$ (0.51)	$ (1.59)	$ (15.28)
Weighted average common shares outstanding:
Basic (in shares)	52,158	43,054	23,594
Add: Effect of dilutive non-vested awards, assumed vested (in shares)	0	0	0
Weighted average common shares outstanding - diluted (in shares)	52,158	43,054	23,594
Potentially dilutive non-vested awards outstanding (in shares)	170	298	114

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
GAAP net loss	$ (14,394)	$ (67,923)	$ (229,930)
Book to tax differences:
TRS (income) loss	(51)	81	(186)
Premium amortization expense	0	(1)	(81)
Agency Securities, trading	348,646	52,665	946,666
U.S. Treasury Securities	(37,602)	43,093	152,268
Changes in interest rate contracts	(93,236)	167,963	(757,742)
Loss on Security sales	0	7,471	7,452
Impairment losses on available for sale Agency Securities	0	0	4,183
Amortization of deferred hedging costs	(82,209)	(103,669)	(145,267)
Amortization of deferred Treasury Future gains	16,753	23,161	3,383
Other	2,134	1,876	2,340
Estimated REIT taxable income (loss)	$ 140,041	$ 124,717	$ (16,914)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Net operating loss carryforwards available for use indefinitely	$ 257,341
Aggregate tax basis of stockholders' equity in excess of assets and liabilities	$ (203,536)
Aggregate tax basis of stockholders' equity in excess of assets and liabilities (in dollars per share)	$ (3.26)
Common stock, shares issued (in shares)	62,412	48,799
Payment of dividends	$ 162,972	$ 228,206	$ 154,406
Estimated REIT taxable Income	$ 140,041	$ 124,717	$ (16,914)
Percent of dividends that represent nontaxable return of capital	14.80%	47.50%	100%
Interest rate swap contracts
Related Party Transaction [Line Items]
Unrealized gain (loss) yet to be amortized	$ (189,450)	$ (247,349)

Income Taxes - Schedule of Tax

Income Taxes - Schedule of Tax Credit Carryforwards (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Capital Loss Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	$ (46,823)	$ (472,002)	$ (732,477)	$ (15,606)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands				1 Months Ended		12 Months Ended
	Jul. 26, 2023	May 14, 2021	Feb. 22, 2021	Feb. 04, 2025	Jan. 23, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 20, 2023	Feb. 14, 2023
Related Party Transaction [Line Items]
Fee waiver adjustment, every month thereafter										$ 550
Interest income						$ 550,946	$ 552,903	$ 228,432
Issuance of common stock, net of expenses						$ 265,660	$ 450,117	$ 475,537
Common stock repurchased (in shares)						0	0	0
Common stock repurchased						$ 1,344	$ 9,935	$ 7,664
Common Stock
Related Party Transaction [Line Items]
Common stock repurchased (in shares)						70,000	477,000
Common stock repurchased						$ 1,344	$ 9,935
Subsequent Event
Related Party Transaction [Line Items]
Payments of stock issuance costs					$ 23
2021 Common Stock ATM Sales Agreement
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)		3,400,000
2021 Common Stock ATM Sales Agreement | Common Stock
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)						13,305,000	13,305,000	14,008,000
Issuance of common stock, net of expenses						$ 367,997	$ 367,997	$ 475,537
Payments of stock issuance costs						$ 3,725
2023 Common stock ATM Sales Agreement
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)	15,000,000
2023 Common stock ATM Sales Agreement | Common Stock
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)						13,619,000	3,328,000
Issuance of common stock, net of expenses						$ 265,614	$ 82,100
Payments of stock issuance costs						$ 2,545	903
2023 Common stock ATM Sales Agreement | Subsequent Event | Common Stock
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)				14,002,000
Issuance of common stock, net of expenses				$ 258,965
Payments of stock issuance costs				$ 2,013
Affiliated Entity
Related Party Transaction [Line Items]
Period of written notice of termination (in days)						180 days
Stock-based compensation expense						$ 350	456	544
Affiliated Entity | Restricted Stock Units (RSUs)
Related Party Transaction [Line Items]
Award vesting period (in years)						5 years
Related Party | BUCKLER Securities, LLC
Related Party Transaction [Line Items]
Interest income						$ 0	973	1,597
Related Party | BUCKLER Securities, LLC
Related Party Transaction [Line Items]
Ownership percentage						10.80%
Equity method investments, value						$ 453	382
Proceeds from divestiture of interest in joint venture						0	0
Subordinated loan to BUCKLER									$ 200,000
Related Party | BUCKLER Securities, LLC | 2021 Common Stock ATM Sales Agreement
Related Party Transaction [Line Items]
Payments of stock issuance costs							$ 2,358	$ 3,375
Related Party | BUCKLER Securities, LLC | 2021 Common Stock ATM Sales Agreement | Common Stock
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)							8,626,000	10,117,000
Issuance of common stock, net of expenses							$ 246,672	$ 334,415
Related Party | BUCKLER Securities, LLC | 2023 Common stock ATM Sales Agreement
Related Party Transaction [Line Items]
Payments of stock issuance costs						$ 11	$ 82
Related Party | BUCKLER Securities, LLC | 2023 Common stock ATM Sales Agreement | Common Stock
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)						11,370,000	3,113,000
Issuance of common stock, net of expenses						$ 221,472	$ 77,092
Payments of stock issuance costs						$ 1,740	$ 661
Common stock repurchased (in shares)						70,000	466,000
Common stock repurchased						$ 1,344	$ 9,702
Related Party | BUCKLER Securities, LLC | 2023 Common stock ATM Sales Agreement | Subsequent Event | Common Stock
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares)				5,902,000
Issuance of common stock, net of expenses				$ 109,971
Payments of stock issuance costs				$ 831
Armour Management Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Automatic renewal period of management agreement						5 years
Other Expenses Reimbursed | Affiliated Entity
Related Party Transaction [Line Items]
Amounts of transaction						$ 965	$ 535	$ 606
Required Regulatory Capital Requirement of Related Party | BUCKLER Securities, LLC
Related Party Transaction [Line Items]
Loans receivable related parties						$ 105,000
Related party transaction, rate						0%
Uncommitted Revolving Credit Facility and Security Agreement
Related Party Transaction [Line Items]
Maximum lending capacity			$ 50,000
Uncommitted Revolving Credit Facility and Security Agreement | Related Party
Related Party Transaction [Line Items]
Basis spread			2%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
ARMOUR management fees
Related Party Transaction [Line Items]
Amounts of transaction	$ 39,726	$ 38,121	$ 33,714
Less management fees waived
Related Party Transaction [Line Items]
Amounts of transaction	6,600	6,600	7,800
Total management fee expense
Related Party Transaction [Line Items]
Amounts of transaction	$ 33,126	$ 31,521	$ 25,914