Adjustable Rate Mortgages can be your best option when looking for the lowest monthly payment.
We offer 2 different types of Adjustable Rate Mortgages (ARMs): the 7/5 ARM and 15/15 ARM. See below for specifics on each program.
| Program | Initial Rate Period | Subsequent Adj. Period | Initial Rate Change Cap | Subsequent Rate Cap | Lifetime Rate Change Cap |
|---|---|---|---|---|---|
| 7/5 ARM | 7 Years | 5 Years | 2.00% | 2.00% | 6.00% |
| 15/15 ARM | 15 Years | N/A | 6.00% | 6.00% | 6.00% |
L&N Federal Credit Union is committed to providing you unsurpassed service. That is why we never sell the servicing of your mortgage to another company. You never have to worry about where your mortgage is from day to day. You can always count on L&N Federal Credit Union to serve you.
For more information on our Home Mortgage programs, contact our Real Estate Department at (800) 292-2905 or (502) 368-5858. Or, contact us by filling out our Contact Form.