Mortgages | First Time Home Buyer | First Mortgage | Second Mortgage | Fixed Rate First Mortgage Loan | Home Equity Line-of-Credit
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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 four different types of Adjustable Rate Mortgages (ARM): the 1/1 ARM, 3/1 ARM, 3/3 ARM, and a 5/1 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% |
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.
