Get the home you want NOW! Start with fixed rates with affordable monthly payments then gain the flexibility of an adjustable rate.

What is an adjustable-rate mortgage loan (ARM)?

An adjustable-rate mortgage (ARM) is a loan in which the interest rate changes based upon a pre-determined index. The ARM loan includes an initial fixed-rate period with a choice of either 5, 7 or 10 years.

ARMs are a good choice for YOU if:

• You will be moving within the next few years
• You desire an initial monthly payment lower than a fixed-rate mortgage loan
• You do not want a typical long-term mortgage

5/1 ARM

• 5/1 ARM has an interest rate that is initially fixed for five years then adjusts annually thereafter. The Initial Rate for a 5/1 year is 6.990% with an 7.513% APR*
• 5 Year ARMs generally provide the lowest interest rates and monthly payments during the initial rate period. These loans are ideal for borrowers who don't want a long-term mortgage.

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• 7/1 ARM has an interest rate that is initially fixed for seven years then adjusts annually thereafter. The Initial Rate for a 7/1 year is 7.125% with an 7.516% APR*
• 7 Year ARMs are newer to the market and offer the convenience of a short term with a longer initial rate protection.

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10/1 ARM

• 10/1 ARM has an interest rate that is initially fixed for seven years then adjusts annually thereafter. The Initial Rate for a 10/1 year is 7.375% with an 7.624% APR*
• 10 year ARMs are increasingly popular as they combine significant savings for the initial rate period with longer protection from market-based interest-rate fluctuations.

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Payments do not include amounts for tax and insurance premiums (including flood insurance), if applicable, and the actual payment obligation may be greater

Maximum 95% LTV for purchases. PMI will be required over 80% LTV

Adjustable rate mortgages use the 5 Year Treasury Constant Maturity as the index, caps 2% and 6% and a floor of 2.75%

The actual interest rate and fees available to you will be based on your credit profile, property type, loan-to-value and other factors, and may be different than the rates advertised here. Payments do not include amounts for tax and insurance premiums (including flood insurance), if applicable, and the actual payment obligation may be greater. No prepayment penalty.

No points Adjustable Rate Mortgage payment based on $150,000.00 at 6.658% APR for 30 years is $875.36 (Monthly payments shown do not include real estate taxes, PMI (Private Mortgage Insurance) or homeowners insurance. A rate lock fee will apply. Up to 95% LTV.

Adjustable Rate Mortgages are variable, and your Annual Percentage Rate (APR) may increase after the original fixed-rate period. The First Adjusted Payments displayed are based on the current Constant Maturity Treasury (CMT) index, plus the margin (fully indexed rate) as of the stated effective date rounded to nearest 1/8th of one percent. All loans subject to credit approval.

These rate offers are subject to change. Rates displayed are the "as low as" rates for purchase loans and refinances. Rates are based on creditworthiness, loan-to-value (LTV), occupancy and loan purpose, so your rate and terms may differ. All loans subject to credit approval.