Adjustable-Rate Mortgage
Adjustable-rate first mortgages including the popular 3-year ARM, 5-year ARM and the 10-year ARM offer lower interest rates.
Competitive Mortgage Rates
Adjustable-Rate Mortgage (First Trust Deed)
Make an appointment for a free in-branch mortgage consultation with our experienced staff.
- No origination fees and low closing costs
- Loans up to $5 million at same competitive rate
- Fast approvals and quick closings for purchase transactions
- Special 5/5 hybrid ARM offers greater rate security than traditional ARMs
- More Mortgage Rates
- Fixed-Rate First Mortgage +
as low as 3.179% APR - Home Equity Line of Credit ++
as low as 5.500% APR - Investment Property Loans
as low as 4.316% APR - First-Time Home Buyer
as low as 3% down payment - **Get mortgage rate details and more rates
Compare Adjustable-Rate Mortgages
3/1*, 5/1**, 7/1***, or 10/1**** ARM
- Adjustable-rate loan with an initial fixed-rate period of 3, 5, 7 or 10 years, with payments amortized over 30 years
- Interest rate adjusts annually the year following the initial fixed-rate period
- Index is based on weekly average yield of one-year Treasury Constant Maturity (TCM)
- Margin—Conforming: 2.5% ; over Conforming: 2.75% ; over $1,000,000: 3.00%
- 2% annual cap, 5% lifetime cap above initial rate
5/5 ARM*****
- Adjustable-rate loan with an initial fixed-rate period of 5 years, with payments amortized over 30 years
- Interest rate adjusts every 5 years starting the year following the initial fixed-rate period
- Index is based on weekly average yield of 5-year Treasury Constant Maturity (TCM)
- Margin—Conforming: 2.25% ; over Conforming: 2.50% ; over $1,000,000: 2.75%
- 2% annual cap, 5% lifetime cap above initial rate
Home refinance
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First mortgage for primary residences
Cash out is available for refinance transactions up to 80% LTV.
Maximum loan:
- 97% LTV up to $850,000
- 90% LTV up to $1,500,000
- 80% LTV up to $2,000,000
- 75% LTV up to $3,000,000
- 70% LTV up to $5,000,000
- 80% LTV up to $2,000,000
- 75% LTV up to $3,000,000
- 70% LTV up to $5,000,000
First-Time Home-Buyer Program
- 97% LTV up to $850,000
- 95% LTV up to $1,500,000
- Ask a Loan Officer or Member Service Representative about lower mortgage insurance premiums and discounted appraisal fee
First mortgage for secondary residences or vacation homes
- Single-family residence only
- Purchase or limited cash-out refinance option
- Maximum $1,500,000 loan
- Maximum 70% LTV
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Disclosures
* 3-year fixed-to-adjustable rate: Initial 4.345% APR is fixed for 3 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 36 payments of $1,244.40 at 4.345% APR, followed by 324 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
** 5-year fixed-to-adjustable rate: Initial 4.150% APR is fixed for 5 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 60 payments of $1,264.80 at 4.150% APR, followed by 300 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
*** 7-year fixed-to-adjustable rate: Initial 4.013% APR is fixed for 7 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 84 payments of $1,285.20 at 4.013% APR, followed by 276 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
**** 10-year fixed-to-adjustable rate: Initial 3.804% APR is fixed for 10 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 120 payments of $1,305.60 at 3.804% APR, followed by 240 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
***** 5/5 hybrid ARM: Initial 3.869% APR is fixed for 5 years, then becomes variable based on an index and margin. For a 30-year loan of $300,000, you would make 60 payments of $ 1,244.40 at 3.869% APR, followed by 240 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
+ Fixed-rate mortgage payment examples assuming a $300,000 loan: 10-year mortgage at 3.179% APR—120 monthly payments at $2,915.70; 15-year mortgage at 3.176% APR—180 monthly payments at $2,089.80; 20-year mortgage at 3.543% APR—240 monthly payments at $1,739.70; and 30-year mortgage at 3.657% APR—360 monthly payments at $1,368.30. Loan payments do not include taxes and insurance.
++ Home-equity lines of credit rates may range from 5.500% APR to 6% APR. These rates are variable and the maximum APR that could apply is 18.000%. The maximum term is 25 years, which includes a 10-year draw period and a 15-year repayment period. For lines exceeding $250,000, closing and appraisal fees may apply in the range of $1,500 to $2,500. There may be an early closure fee of $500 for home equity lines closed within the first two years of origination.
