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Adjustable Rate Mortgage New York

Smart Choice Adjustable-Rate Mortgage with rate increase protection*

As your go-to adjustable rate mortgage lender in New York, Northern is with you every step of the way. A Smart Choice Adjustable-Rate Mortgage can help make your dreams of homeownership come true.

  • Adjustable-Rate Loan NY

    $500 Cashback at Closing¹

    Are you pausing on the purchase of your dream home, waiting for rates to come down, or are you looking for a mortgage with more flexibility? A Smart Choice Adjustable-Rate Mortgage with Northern may be a good option for you.

    Make a smart choice, start with a lower interest rate that’s fixed for a set period of time. After that, the rate adjusts based on market conditions. With our Smart Choice Adjustable-Rate Mortgage in New York, you have the power to take advantage of a lower interest rate if market conditions change, with a low-cost modification.**

    The Smart Choice Adjustable-Rate Mortgage (ARM) offers:

    • A 3-year or 5-year ARM.*
    • $500 cashback at closing.¹
    • 1% less than a fixed-rate mortgage.*
    • Low-cost rate modification** if market rates drop.
    • Rate increase protection, your ARM will not increase more than 2% per adjustment.***
    • ARM can even decrease up to 3% per adjustment! ****
    • Increases are capped at 5% over the ARM term.***

    Download your $500 cashback coupon here. 

    To apply for an Adjustable Rate Mortgage in New York simply:

    • Become a member to take advantage of these great benefits, getting started is easy, join now!
    • Apply online anytime.
    • For more information about ARM loans in New York, call or text 315-777-8910. ²
    • Text HOME to 315-782-0155. ²

    Federally Insured by NCUA. Equal Housing Opportunity.

    *Product available as a 3- or 5-year ARM. ARM Interest rate is 1% less than Northern Credit Union’s current rates on a 30-year fixed-rate mortgage as of 01/31/24. **Modifications will incur a $700 fee. ***2% increase can occur dependent on market rate fluctuation every year after the first 3 or 5 years annually, with a 5% overall rate increase cap over the term of the ARM. ****3% rate decrease is not guaranteed and subject to market rate fluctuation.

    ¹Between 2/21/24 – 9/30/24 members who have completed their application will receive a $500 deposit within 90 days after the loan closes. Cannot be combined with any other offer.

    ²Carrier Rates and Fees May Apply.