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