Low Adjustable Rates and an Opportunity for Savings Today

  • Do you want to significantly reduce the cost of your mortgage?
  • Do you plan to move or refinance in the next 5, 7 or 10 years?
  • Do you want the lowest interest rate available?

If you answered “Yes” to any of these questions, an Adjustable Rate Mortgage (ARM) might be right for you. With our ARM you get the lowest rates we offer during the initial fixed rate period.

If you anticipate a significant increase in your income or property value in the next several years, plan on staying in your home short-term, or would like to significantly lower your payment, an ARM might be right for you. As the name implies, Adjustable Rate Mortgages have interest rates that change at a pre-determined frequency.

Why get an adjustable rate mortgage?

  • Save money in during the initial period vs. a fixed rate loan during the same timeframe
  • Use the monthly savings to pay down other debt or for whatever you like
  • Great option if you intend to refinance or sell your home in an expected time frame

Hybrid ARMs
Hybrid ARMs feature an initial fixed rate portion, which then changes to an adjustable rate for the remainder of the loan. They are typically represented as a 3/1, 5/1, 7/1, or 10/1. The first number indicates the time (in years) that the initial rate is fixed. The second number indicates how often the rate can adjust after the initial change.

Interest rate caps
Once your loan enters its adjustable rate period, interest rate caps are put in place. They identify the maximum amount your rate can increase, both at the end of each adjustment period, and over the life of the loan as a whole. Contact one of our licensed Loan Officers today for details.