Residential
Home loans with low introductory rates.
Our Adjustable Rate Mortgage can help you finance your home by offering a discounted rate that delivers savings at the start of the loan, when you may really need it.
- 5/1, 7/1 or 10/1 terms available
- Local decision-making
- Lower monthly payments initially
- Annual rate adjustments after the initial period
- Maximum rate adjustment of 2% per rate review and 6% over lifetime of the loan
- Choice of down payment options
- Available for owner-occupied 1- to 4-family homes
- Rate-lock options available
Why Choose An Adjustable Rate Mortgage?
The initial interest rate is lower with an ARM over a fixed rate mortgage. This is an obvious advantage. But many people wonder, "Why choose an ARM if the rate might keep increasing?" Good question. It's not for everyone, but an ARM could be perfect if:
- You plan on selling your home in 5-10 years
- You expect your salary and income to increase within a few years
- You budget appropriately to anticipate possible increases
