This mortgage’s name almost says it all: It starts with a lower initial interest rate that’s fixed for a set period of time. After that, the rate adjusts based on market conditions—but there is a cap to prevent it from increasing too much all at once. An adjustable rate mortgage may be a good choice if you:
- Want to maximize your buying power.
- Want to keep your payments lower during the first few years of your loan.
- Plan to move into a different home—or pay off your mortgage—within the next ten years.
- Expect your income to increase significantly in the coming years.
Apply online and get $100 at closing*! Not sure which mortgage is right for you—or prefer to speak to a lender? Call one of our experienced home lending professionals at 315-777-8910.
||Interest (As Low As)
||APR (As Low As)
|30 Year 5/5 ARM
|15 Year 5/5 ARM
Sample payments and APR percentage are based on $100,000 loan amount. The payments displayed do not include amounts for escrow, taxes or insurance. Actual payments may be greater, if applicable. The Interest Rate is the advertised rate and can vary based on creditworthiness, home type, mortgage type and terms of the loan. See Credit Union for details.
*$100 will be deposited into a Northern Credit Union deposit account at the time of mortgage loan funding.