Adjustable Rate First Mortgage

Adjustable Rate Mortgages can be your best option when looking for the lowest monthly payment.

 

We offer four different types of Adjustable Rate Mortgages (ARMs): the 1/1 ARM, 3/3 ARM, 5/5 ARM and 15/15 ARM. See below for specifics on each program.

Program

Initial Rate 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%

3/3 ARM

3 Years

3 Years

2.00%

2.00%

6.00%

5/5 ARM

5 Years

5 Years

2.00%

2.00%

6.00%

15/15 ARM

15 Years

N/A

6.00%

6.00%

6.00%

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Initial

Rate Change

Cap

Subsequent Adjustment

Period

Program

Initial

Rate Period

Subsequent

Rate

Change

Cap

Lifetime

Rate

Change

Cap

1/1 ARM

1 Year

Annually

2.00%

2.00%

6.00%

3/3 ARM

3 Years

3 Years

2.00%

2.00%

6.00%

5/5 ARM

5 Years

5 Years

2.00%

2.00%

6.00%

15/15 ARM

15 Years

N/A

6.00%

6.00%

6.00%

Equal Housing Lender
Equal Housing Lender
Equal Housing Lender

Lifetime

Rate Change

Cap

Subsequent

Rate Change

Cap

Program

Initial Rate Period

Subsequent Adjustment Period

Initial Rate Change

Cap

1/1 ARM

1 Year

Annually

2.00%

2.00%

6.00%

3/3 ARM

3 Years

3 Years

2.00%

2.00%

6.00%

5/5 ARM

5 Years

5 Years

2.00%

2.00%

6.00%

15/15 ARM

15 Years

N/A

6.00%

6.00%

6.00%

Equal Housing Lender
Equal Housing Lender

Program

Initial Rate 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%

3/3 ARM

3 Years

3 Years

2.00%

2.00%

6.00%

5/5 ARM

5 Years

5 Years

2.00%

2.00%

6.00%

15/15 ARM

15 Years

N/A

6.00%

6.00%

6.00%

Equal Housing Lender
Equal Housing Lender