Adjustable-Rate MortgagesApply Now
Get a low rate that is fixed for an initial term and may adjust thereafter.
- Choose a loan term of 15 or 30 years, with ARM options of 1/1, 3/1, 5/1, 7/1 and 15/15.
- Our 15/15 ARM is a 30-year loan where the rate is fixed for 15 years, may adjust in the 16th year, and is then fixed for the rest of the loan.
- Rates may go up or down depending on the market.
- Annual rate caps - Your rate will not increase by more than 2% with each annual adjustment.
- Lifetime rate caps - Your rate will not increase by more than 5% total over the life of the loan for 5/1 and 7/1 ARMs, or 6% for 1/1, 3/1 and 15/15 ARMs.
- Lowest closing costs - If you find lower closing costs elsewhere, we’ll match it or give you $500.
- First-time homebuyer special offer! Get $1,000 off closing costs.
Adjustable-rate home loans may be right for you if:
- You want a lower initial payment.
- You plan on selling or refinancing within a few years. Or, you plan to pay off your loan before the fixed-rate term ends.
Have Questions or Need Help?
What Do the Numbers Mean?
ARMs are described with figures such as 1/1 and 3/1.
The first number is the number of years the initial fixed-rate term lasts. The second number is how often the rate may be adjusted after the initial term.
For example, a 5/1 ARM has a fixed rate for five years. After the five years are over, the rate may adjust once per year for the remainder of the loan.
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7 / 1 Adjustable Rate Purchase
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