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A powerful tool for homebuyers

Think rates will fall? Do you plan to stay in your home only a few years? Consider an Adjustable-Rate Mortgage. Because ARMs offer a lower initial interest rate, you can enjoy a more affordable payment and boost your monthly cash flow.

Overview

Why choose an Adjustable-Rate Mortgage?

10/1 Adjustable-Rate Mortgage rates as low as 2.875% / 2.957% APR1 for the first 10 years, and no more than 6.875% / 7.049% APR1 for the remainder of the loan term.

As the name implies, an Adjustable-Rate Mortgage (ARM) offers a lower fixed rate for a set time, and then adjusts after that. For home buyers who plan to move or refinance before the initial fixed rate is up, that can mean a big savings on interest.

Afford more home
Annual & lifetime rate caps
Lower initial payment
ARM loans may be tempting, but it’s important to evaluate the risk, especially if you plan to stay in your home long term. Let us help you compare your options. You can reach us a number of ways: call (863) 688-8443 or toll free (855) 915-4663, find a local mortgage specialist, or start your application online.

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Features

Learn about Adjustable-Rate Mortgages

  • Lower initial interest rate and payment
  • Flexible terms include 5/1, 5/5 or 7/7 (The first number is the initial fixed-rate period, and the second number is how often the rate will adjust after that.)
  • Includes a rate cap that sets a limit on how high the rate can increase
  • Down payments as low as 5%1
  • No penalty for paying your loan off early
  • Option for bi-weekly payments or additional principal-only payments
  • Jumbo loans also available

Things to Consider

  • Your monthly payment may change significantly each year after the initial fixed rate ends.
  • ARMs can be a little difficult to understand with initial rate periods, annual caps, margins, etc.
  • The length of time you plan to stay in your home should be considered when choosing a loan.

Refinance

Thinking about refinancing?

Whether you want to lower your monthly payment, pay off your home sooner or get cash out of your home’s equity, see how refinancing your home can help you reach your goals. Talk to a mortgage specialist to find out more.
Notices & Disclosures
1
Membership, eligibility, and credit approval required. Available for purchases, refinances, or construction-permanent loans of a primary residence. 2.875% is a 10-year promotional rate for credit scores 700 and above with an LTV no more than 80%. 1. Payment example: Based on a credit score of 700, a 30-year adjustable rate mortgage construction permanent loan for $500,000, with 20% down at 2.875% interest rate and an Annual Percentage Rate (APR) of 2.957%, has monthly principal and interest payments of $2,074.46 during the first 120 months. The interest rate may adjust once every 12 months thereafter, based on the 1-year US Treasury Bill rate (0.31% as of January 4, 2022), plus a margin of 2.75%, with a maximum interest increase of 4% over the rate at closing. The monthly payment amount after the first adjustment based on current rates will be $2,462.95, and the highest possible monthly payment during the life of the loan could be $2,855.30. Payment example does not include amounts for taxes or insurance premiums; the actual payment obligation will be greater. Promotional Rate and Margin may vary based on credit history and underwriting guidelines. Advertised terms are valid as of January 4, 2022, and subject to change without notice. Other conditions apply. Ask your mortgage loan officer for details.