Our 5/6 ARM
(adjustable rate mortgage) starts with an interest rate that is lower than a conventional fixed rate mortgage. This lower rate is guaranteed for the first 5-years, making it easier for you to qualify for and get established in your new home. After the 5th year, your mortgage interest rate will adjust (up or down) to the market rate every 6 months.
- Low introductory rate guaranteed for 5-years
- Available only as 30-year term
- Minimum 20% down payment required
- Minimum credit score is 680