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Adjustable-Rate Mortgages
You can save more money in the early stages of your term.
Change can be a good thing.
Adjustable Rate Mortgages (ARMs) have a reduced interest rate and monthly payment early on in your loan term. However, the initial rate is only fixed for a certain period of time, after which the rate – and your monthly payment – can move up or down depending on market conditions.
While ARMs are not for everyone, it can make sense if you don’t plan on living in the home for very long or you are looking to increase your buying power.
- Fixed rates available for the initial 3, 5, 7, or 10 years for up to a 30-year term
- The amount your rate can increase annually and over the life of the mortgage is capped (so it can’t go up indefinitely)
- Financing available for primary residences or second homes
- Average application processing time is 30-45 days
- Simple online application process
Get started with our concierge
Talk to us. Contact our mortgage specialists at mortgage@ardentcu.org.
