Adjustable-Rate Mortgages (ARM)

Flexible mortgage solutions to get you home.

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An Adjustable-Rate Mortgage (ARM) may be your key to homeownership. We have a variety of options available, with terms designed to meet your personal needs.

Is an Adjustable-Rate Mortgage Right For You?

Adjustable-Rate Mortgages (ARMs) are home loans that starts with a low initial interest rate for a fixed period of time and adjusts up or down based on the market at set intervals. Your monthly payment will increase or decrease if the index rate goes up or down.

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Lower Payments

The initial interest rate with an ARM is typically lower than a fixed-rate mortgage so you have lower payments at the beginning of your loan.

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Flexibility

Whether you’re looking for a “for now” home or “the home of your dreams”, ARMs provide the flexibility to build up equity and either sell or refinance your loan before the rate begins to fluctuate.

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Rate and Payment Caps

ARMs have caps that limit how much the rate and payment can increase over the life of the loan to protect the borrower.

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Your Payment Could Decrease

If interest rates fall, your monthly payments and interest rate can also decrease, saving you money.

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Not sure an Adjustable-Rate Mortgage is right for you?

See Other Mortgage Options Right facing arrow.

Mortgage Rates

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Type Interest Rate APR As Low As Points
7/1 Year ARM (Conforming) 3.750% 5.094% 0.00
10/1 Year ARM (Conforming) 4.500% 5.243% 0.00

Rates effective as of August 9, 2022

Why Borrow with Northeast Credit Union? 

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We are Local

Neighbors really do make the best lenders. Trust your mortgage to a local team that makes you feel at home the whole way.

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We Service Your Loan, Always

Your home is local – your mortgage should be too. Each of our loans is serviced here at Northeast, from the start.

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We Care About Our Community

We don’t just work here – we live here. And just like you, we’re committed to helping our community thrive through our Love Your Community Program.

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Want to see what Mortgage Type is best for you?

Let Us Help You Find Your Way Home

Speak with a Mortgage Specialist to find the best solution for you. Give us a call at888-436-1847 (select option 4)