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Adjustable-Rate Mortgages
Lower initial rates can make your dream home more affordable.
What do those numbers mean?
Adjustable-rate loans are often described as 5/1 or 10/1 or something similar. The first numeral refers to the years the initial interest rate stays in effect. The second is the number of years between potential rate changes after the initial term expires.
Our ARMs can carry a ton of financial benefits
A Securityplus adjustable-rate mortgage (or ARM) comes with lower borrowing costs than a fixed-rate loan for a set number of years. After that time passes, rates may adjust downward or upward at regular intervals. But during the initial term, those lower monthly payments can leave you with extra money to furnish your new place, pay other living costs or beef up your savings account.
- 3/1, 5/1, 7/1, and 10/1 mortgage options
- Lower fixed-rate loan payments for the initial term
- Low Private Mortgage Insurance (PMI) rate
- Down payment requirements as low as 5% for qualified purchase borrowers
- Refinancing options available
- No pre-payment penalties
- Work with Securityplus Federal Credit Union's friendly mortgage professionals who can explain all the details of adjustable-rate mortgages
Quick Tips
Getting a home loan that fits your budget and lifestyle.
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