Adjustable Rate Mortgage (ARMs)

ARMs start off with a fixed rate for a predetermined period, then adjust twice a year—higher or lower depending on the market at the time. This option may be ideal if you only plan to live in the home for a few years, expect interest rates to remain the same, or expect to have an increase in income.
 

10-Year ARM

For the borrower who thinks they might move within 10 years, or who just wants a loan rate locked in for 10 years, the 10-year ARM is an excellent option. With our 10‑year ARM, your payments are based on a 30-year term to keep them affordable, but your low rate is locked for 10 years!

 

Benefits:

  • Lower rate
  • Lower payment with the 30-year-term as the payments are amortized over the longer period and thus affordable—providing you flexibility within your budget. 
  • Locked rate for 10 years, providing you the security of a fixed payment for a longer time than other ARMs. 

We also offer 7-year and 5-year ARMs to meet your unique lending needs.

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*Rates are determined by an evaluation of the applicant’s credit, loan-to-value (LTV), and upon refinancing your non-JHFCU loan. Your actual rate may vary. Minimum down payment of 5% required.  Payments do not include amounts for taxes, insurance premiums or private mortgage insurance (PMI), if applicable, actual payment obligation will be greater. Property and flood insurance may be required, therefore the actual payment obligation would be greater. Rates are subject to change. Calculate estimated payment.