Whether it's your starter home or your forever home, you may want to take advantage of a lower monthly payment with one of our Adjustable Rate Mortgages (ARM). Also known as a variable rate mortgage, the ARM rate stays fixed for the first 5, 7, or 10 years of a 30 year mortgage.
Features:
- Rates are traditionally lower than fixed rate mortgages
- Rates are fixed for the initial term (5, 7 or 10 years) and then can adjust to current market rates every 6 months after that, to a maximum of 1% up or down.
- Rate increases area capped at a pre-determined maximum
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