Adjustable Rate Mortgage
Enjoy Lower Monthly Payments with an ARM
- Lock in a low interest rate for the first 5 years
- Potential for lower monthly payments
- Personal service from local experts
Make Your Homeownership Dreams a Reality
5/6 ARM
Our 5/6 ARM (adjustable rate mortgage) starts with an interest rate lower than a conventional fixed rate mortgage. This low 'introductory' rate is guaranteed for the first 5-years, making it easier for you to qualify for and get established in your new home.
5/6 ARM Features:
- Low introductory rate guaranteed for 5-years
- After the 5th year, your mortgage interest rate will adjust (up or down) to the market rate every six months.
- 30-year repayment term
- Minimum 20% down payment required
- Minimum credit score is 680
- Compare our Mortgage Offerings
- Learn about our Mortgage Process
- Connect with a Mortgage Specialist
- Start a Mortgage Application online
You may be a good candidate for our 5/6 ARM, if you:
- Want a monthly payment that is lower than a conventional fixed-rate mortgage
- Believe that interest rates will go down over the next five years
- Plan to move, refinance, or pay off your mortgage within five years
For existing homeowners wanting to tackle a major project or expense, our 5/6 ARM is also a great alternative to a Home Equity Loan or HELOC.
Adjustable Mortgage Example:
Home Purchase Price: $250,000
Loan Amount: $200,000
Intro Rate: 5.875%**
Term: 30-years
Monthly Payment = $1,183
Fixed Rate Mortgage Example:
Home Purchase Price: $250,000
Loan Amount: $200,000
Fixed Rate: 7.875%**
Term: 30-years
Monthly Payment = $1,450
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