Adjustable-Rate Mortgages

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Get a low rate that is fixed for an initial term and may adjust thereafter.

With an adjustable-rate (variable-rate) mortgage, your home loan has a rate that may change periodically. 

  • Rates may go up or down depending on the market, which means your monthly payment may increase or decrease.
  • Get a term of 30 years with ARM options of:
    • 3 yr/6 mo - Rate is fixed for 3 years and may adjust every six months thereafter.
    • 5 yr/6 mo - Rate is fixed for 5 years and may adjust every six months thereafter.
    • 7 yr/6 mo - Rate is fixed for 7 years and may adjust every six months thereafter.
    • 15/15 - 30-year loan term only. Rate is fixed for 15 years, may adjust in the 16th year, then stays the same for the rest of the loan.

All our ARMs feature rate caps for peace of mind:

  • First adjustment rate cap - Your rate will not adjust by more than 2% at the first adjustment date for 3 yr/6 mo and 5 yr/6 mo ARMs, or 5% for 7 yr/6 mo ARMs.
  • Future rate cap - Your rate will not increase by more than 1% with each 6-month adjustment.
  • Lifetime rate cap - Your rate will not increase by more than 5% total over the life of the loan for 5 yr/6 mo and 7 yr/6 mo ARMs, or 6% for 3 yr/6 mo and 15/15 ARMs.

An adjustable-rate mortgage may be right for you if:

  • You want a lower initial rate than some other home loan options.
  • You think rates may go down in the future.
  • You plan to sell, refinance or pay off your loan before your fixed rate ends, so you aren't concerned about possible rate increases.

To compare loan terms, rates and payments, get a rate quote.

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7 yr/6 mo Adjustable Rate Mortgage


15/15 Adjustable Rate


15/15 Adjustable Rate Mortgage


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What Do the Numbers Mean?

ARMs are described with figures such as 3 yr/6 mo.

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 yr/6 mo ARM has a fixed rate for five years. After the five years are over, the rate may adjust once every six months for the remainder of the loan.

Explore closing cost discounts available with your mortgage at UW Credit Union.

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Don’t bother shopping around for the lowest closing costs. They’re right here. 

Plus, take up to $1,250 more off1,2—and if you find lower costs somewhere else, we’ll make it worth your effort.** 

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