L&N Federal Credit Union: Lending Services: Home Mortgages: Adjustable Rate First Mortgage

Adjustable Rate First Mortgage
Looking for the best rates possible on your mortgage? Looking for flexibility from your mortgage company? Then check out our Adjustable Rate First Mortgage program.

This program now offers six different types of Adjustable Rate Mortgages (ARM): the 1/1 ARM, 3/1 ARM, 3/3 ARM, 5/1 ARM, and 7/1 ARM. Features listed below all include a maximum term of 30 years:

Program	Initial Adjustment Period	Subsequent Adjustment Period	Initial Rate Change Cap	Subsequent Rate Change Cap	Lifetime Rate Change Cap
1/1 ARM	1 year	Annually	2.00%	2.00%	6.00%
3/1 ARM	3 years	Annually	2.00%	2.00%	6.00%
3/3 ARM	3 years	Every 3 years	2.00%	2.00%	6.00%
5/1 ARM	5 years	Annually	2.00%	2.00%	6.00%
7/1 ARM	7 years	Annually	5.00%	2.00%	5.00%

If you are looking to have lower initial payments and rates, pay your loan off quicker and easier, or take advantage of possibly lower future rates, then this loan is perfect for you.

For information on Current Rates click on the link provided. For more information about our Adjustable Rate First Mortgage program, contact our Real Estate Department at (800) 292-2905 or (502) 368-5858. Or, email us at realestate@lnfcu.com.

© 2008 L&N Federal Credit Union
Click the icons above for more details.
Your savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.