An adjustable (variable) rate mortgage loan is one where the interest rate could change based on the index. This means that your payments may fluctuate after each fixed-rate period. It’s important to know that most adjustable rate mortgages do come with a fixed interest period that is typically lower than that of conventional loans. 

5/5

ARM

5/5

JUMBO ARM


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Adjustable Rate Loan Features


Low Monthly Payments

An adjustable rate mortgage let’s you keep your payments low during the fixed rate period.  

Low Initial Rate

Adjustable rate mortgages typically have a lower initial interest rate than their counterparts--fixed rate loans. 


Refinancing Available

Refinancing is available for existing adjustable rate mortgages for up to 85% of your homes value. 

Low Down Payment

Most variable loans only require a 10% down payment on your home. 

ARM Rates

An adjustable rate mortgage is ideal for buyers who don’t plan to stay in their home for more than the fixed rate period. We’re here to help make sure that you get the lowest possible rate for the years to plan on staying in your home.

Effective Date: 9/27/22 
Loan Type Rate APR*
5/5 ARM as low as 5.000% 5.252%*
5/5 JUMBO ARM as low as 5.500% 5.388%**

ARM Requirements and Qualification

 

Loan Amount

Single family home conforming financing available for up to $548,250. Jumbo financing available above $548,250.

Down Payment

At least 10% down payment is required at closing.

Credit Score

We require a credit score of at least 640 to qualify.


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Other Mortgage Loan Options

Fixed Rate Mortgages

Fixed rate mortgage loans are Ideal for homeowners looking for an easy way to budget long term

Learn More

FHA Mortgages

FHA loans are a go-to mortgage program for first-time homebuyers who want a low down payment.

Learn More

VA Mortgages

A great home loan option to help veterans, reservists, active duty and retired military personnel afford a home.

Learn More


*APR: Annual Percentage Rate. Fixed 5.000% / 5.252% APR for the first five years. The interest rate is current as of 9/27/2022. No Private Mortgage Insurance. Up to 80% LTV for purchases. Maximum loan amount is $510,400. After the five-year fixed-rate period, your interest rate is subject to change- up or down according to market rates at the time of reset and each five years thereafter. Offer applies to borrowers with a credit score of 720 or better depending on credit qualifications. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. The payment on a 30-year, $200,000, 5-year Adjustable-Rate Loan at 5.000% / 5.252% APR and 80% loan-to-value (LTV) is $1,073.64. Rate is variable and can increase by no more than 2% every 5 years with a lifetime maximum adjustment of 5%. Since the index in the future is unknown, the First Adjustment Payment is based on the current index plus a margin (fully indexed rate) as of the date above. After 5 years, the maximum payment is $1330.60. Property insurance and, if applicable, flood insurance is required. These payments do not include taxes and insurance premiums. The actual payments will be greater and rates provided are based on current market rates, and are informational only. Payments are estimates and include only principal and interest. Some restrictions may apply. This rate is applicable for owner-occupied purchase of a single-family dwelling.

**APR: Annual Percentage Rate. Fixed 5.500% / 5.388% APR for the first five years. The interest rate is current as of 9/27/2022. No Private Mortgage Insurance. Up to 80% LTV for purchases. Minimum loan amount is $510,400. After the five-year fixed-rate period, your interest rate is subject to change- up or down according to market rates at the time of reset and each five years thereafter. Offer applies to borrowers with a credit score of 720 or better depending on credit qualifications. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. The payment on a 30-year, $510,000, 5-year Adjustable-Rate Loan at 5.500% / 5.388% APR and 80% loan-to-value (LTV) is $3679.27. Rate is variable and can increase by no more than 2% every 5 years with a lifetime maximum adjustment of 5%. Since the index in the future is unknown, the First Adjustment Payment is based on the current index plus a margin (fully indexed rate) as of the date above. After 5 years, the maximum payment is $4530.91. Property insurance and, if applicable, flood insurance is required. These payments do not include taxes and insurance premiums. The actual payments will be greater and rates provided are based on current market rates, and are informational only. Payments are estimates and include only principal and interest. Some restrictions may apply. This rate is applicable for owner-occupied purchase of a single-family dwelling.