Our payment was right where it needed to be.
- Brian, June 2019
Get lower initial payments with an ARM
What makes Adjustable Rate Mortgage (ARM) right for you? An ARM is a variable-rate loan, meaning the rate changes during your term. In plain English: you’re able get a lower rate upfront and then your rate adjusts later down the road. It’s often a good choice if you’re not planning on staying in the home long-term.
- Lower payments upfront – Save every month during your first term with a lower rate
- Save up to $5,000 on closing costs1 – We’ll cover you up to $5,000
- Increase your buying power – Getting a lower rate upfront makes it easier to afford a larger, nicer home
- Know when your rate will adjust – Each term lets you know ahead of time when to expect an adjustment
Adjustable Rate Mortgage Loan Rates
Product | Points | APR† | Rate as low as... | Payment example | |
---|---|---|---|---|---|
10/1-Year Adjustable Rate Mortgage * | 0% | 6.881% | 6.625% | $1184.58 | Apply |
15/15-Year Adjustable Rate Mortgage * | 0% | 6.782% | 6.750% | $1199.91 | Apply |
*Based on a $185,000 Loan Amount with an 80% LTV, and FICO>=740. Payment examples do not include taxes and insurance premiums; actual payment may be greater. Rate and payment may increase after consummation and varies based on index and margin.
Adjustable Rate (10/1 ARM) - Primary or secondary owner occupied-residence, $185,000 loan amount, 80% Loan-to-Value, 2% annual adjustment and 5% over the lifetime of the loan.
Adjustable Rate (15/15 ARM) - Primary or secondary owner-occupied residence, $185,000 loan amount, 80% Loan-to-Value, 5% Rate Cap for one-time adjustment.
Adjustable Rate Loan Rates - Jumbo Loans (over $806,500)
Rates apply to purchase and refinance.
Product | Points | APR† | Rate as low as... | Payment example | |
---|---|---|---|---|---|
10/1-Year Adjustable Rate Mortgage Jumbo * | 0% | 6.620% | 6.625% | $5192.92 | Apply |
15/15-Year Adjustable Rate Mortgage Jumbo * | 0% | 6.747% | 6.750% | $5260.13 | Apply |
*Based on a $811,000 Loan Amount with an 80% LTV, and FICO>=740. Payment examples do not include taxes and insurance premiums; actual payment may be greater. Jumbo mortgage loans are mortgages in excess of $806,500 up to a maximum of $3,000,000 per loan. Rate and payment may increase after consummation and varies based on index and margin.
Adjustable Rate (10/1 ARM) Jumbo - Primary or secondary owner occupied residence, $811,000 loan amount, 80% Loan-to-Value, 2% annual adjustment and 5% over the lifetime of the loan.
Adjustable Rate (15/15 ARM) Jumbo - Primary or secondary owner occupied residence, $811,000 loan amount, 80% Loan-to-Value, 5% Rate Cap for one-time adjustment.