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5/6 Adjustable-Rate Mortgage

A flexible loan option so you can keep your options open.

We understand that situations change and new opportunities are always just around the corner. That's why we're offering a 5/6 Adjustable-Rate Mortgage. If you're not sure what homeownership will look like for you in 5 years, you'll at least have the benefit of lower mortgage payments that work for your budget while you figure it out.
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Lower Rates Now + Adjusted Payments Later

The 5/6 Adjustable-Rate Mortgage is a financing option that offers a low fixed interest rate for the initial 5 years of the loan and then adjusts every 6 months for the remainder of the term. The flexible structure of this loan allows homeowners and potential homeowners the opportunity to take advantage of lower rates compared to a standard fixed rate loan early on in the loan term, and is a great option for homeowners who are planning to sell or refinance their home within a few years. 

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Why choose an adjustable-rate mortgage?

With an ARM, you have the option of financing a new home with lower initial monthly payments with a traditional fixed rate mortgage.

An Adjustable-Rate Mortgage might be right for you if...

  • You expect your income to increase.
  • Anticipate needing to sell or plan to refinance in the near future.
  • It can also work well for those looking to refinance their current loan.
 
What to expect after you apply:

We want you to feel prepared as you navigate this application process. Download this checklist to learn about what you'll need to have on-hand once you've hit "submit".

  • 5 year fixed-rate.
  • 30-year total term.
  • Minimum loan amount $25,000.
  • Maximum loan amount varies.
  • No pre-payment penalties.
  • After initial 5 year period, conversion option available.
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5/6 ARM Payment Example: 6.625% Annual Percentage Rate (APR) fixed for the first 60 months (5 years) of a 360 month term (30 years) calculates to a payment of $1,280.62 based on a loan amount of $200,000. After the fixed period of the first 60 months (5 years), the rate can increase/decrease no more than 1% every 6 months (no more than 2% per year) for the remainder of the term (300 months or 25 years). Payment example excludes taxes and insurance.

Book an appointment and skip the line!

When you book an appointment online, you won't have to wait in the lobby to talk to one of our representatives. Plan ahead for a date and time that works for you, at a location that's close by. One of our agents will be ready to speak with you at the time you booked.
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Unlocking Benefits: How to Refinance your Adjustable-Rate Mortgage
In this post, you’ll find all the details you need to make an informed decision about ARM refinancing, including tips about interest rates and more!
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ARM Loan Modifications: Adjusting to Fit Changing Needs
Here’s our explanation of ARM loan modifications, with details on what they are, how they work, and how to get a mortgage modification if you need one.
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If you’re considering an ARM, we’ve put together this list of eight helpful tips for managing adjustable-rate mortgages.
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Ready to get started?

Take advantage of a mortgage loan option with lower initial payments and begin your application, today.
  1. 1
    If you're not currently a member, review eligibility.

    Anyone who lives, works, worships or attends school in certain select counties may join. View our "Become a Member" page for full eligibility. 

  2. 2
    Make sure you have everything you need.

    Download our "next steps" checklist and review the required materials.

  3. 3
    Complete loan application.

    When you're ready, complete the online application or visit your local branch to apply in person. 

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