Adjustable Rate Mortgages
Save some money while you're getting settled in
With an adjustable-rate loan, you may be able to afford more home than you imagined. Your savings during those first few years can also give you more money for remodeling, repairs, and life's other expenses. At Credit Union ONE, we give you the option of locking in an attractive lower rate for 5, 7, or 10 years. After that, the rate will increase or decrease every six months based on market factors.
- Enjoy personal attention from our experienced Mortgage Consultants
- Fast loan approval process can get you financing in a matter of days
- Lock in your interest rate for the first three months while you shop for your home
- Avoid Private Mortgage Insurance (PMI) by making a down payment of 20% or more
What is an Adjustable Rate Mortgage?
Run the numbers on an adjustable mortgage loan.
Adjustable Rate Mortgages FAQs
The principal and interest payment on a Fixed Rate will not change during the fixed period, but on an Adjustable Rate, it could increase or decrease depending on market interest rates.
The length of time you intend to stay in your current home is usually the determining factor. An adjustable rate mortgage may be right for you if you plan to stay less than 5-10 years. Ask one of our Mortgage Lenders for the best option for you when you call today.
Extend your reach with an ARM.
The calculator tools are not guarantees of credit. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes.