Adjustable Rate Mortgages

Adjustable Rate Mortgages

Save some money while you're getting settled in

Remodel rooms, rebuild savings

There's a lot you can do with the money you'll have.

Reduced initial rate

Enjoy lower monthly payments for the first few years you own your home.

You're protected

Loan caps limit the total rate increase to no more than 5 percentage points over the life of the loan.

Periodic adjustments

After the introductory period, rates may rise or fall every six months, depending on market factors.

Lower closing costs

Receive a $1,000 closing cost credit when you close on your Credit Union ONE mortgage and an additional $1,500 lender credit when you refinance your current CUONE ARM with us in the future.

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

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.

Credit Union ONE is a full-service financial institution with locations in Southeast Michigan, Davison, MI, Traverse City, MI, and Grand Rapids, MI.

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.