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5/5 Adjustable Rate Mortgage

Manage your home loan. Don't let it manage you.

In a fast-paced, ever-changing world, worrying about adjustments in your mortgage payments is the last thing you need. Which is why we're excited to bring you a new home loan option - The 5/5 ARM.



You may be familiar with a 5/1 ARM, which sets a fixed-rate for the first five years and then the rate adjusts annually thereafter. With our new 5/5 ARM, you will still enjoy that initial 5-year fixed-rate but then your rate adjusts only once every 5 years. Which means protected, consistent payments for longer periods to give you peace of mind.
We know homebuyers' circumstances and needs vary, that is why we offer a wide range of loan products to help. From long-term to short-term and everything in between, we have you covered. Below are some things to consider when choosing your home loan.
Contact us today or request a call back to speak with our Mortgage Loan Officers.

Great Features Icon
  • Great Features:
  • Enjoy a fixed interest rate for 5 years


    Rate adjusts every 5 years thereafter


    Easy application process

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Get Prequalified

A pre-qualification for a mortgage refinance lets you know how much you can borrow based on some basic financial information such as your income, debt, savings, assets, and a credit check. It’s not a loan agreement but will provide an estimated monthly payment amount so you can evaluate if a home purchase or refinance makes sense.

Get Pre-Qualified

Mortgage Loan Guide

When you begin your home buying journey, we will start by ask you a few questions to help determine which home loan is right for you. Here is a snapshot based on just a few loan options:



 

5/5 ARM



30-Year Fixed 5/1 ARM 



How long do you


plan to live in

your home?



I'm not sure

but at least five

years.



I think I found my

forever home.



I'll be in this

home five years

or less.





Do you expect


any major

income changes

in the next five

years?



Not really, my

income will stay

mostly the same

or increase.



No, my income

will remain stable

for many years

to come.



Not sure, but I

don't anticipate

a decrease.





Is it important


for you to lock in

a rate for the

life of your loan?



No, but I'd like

some stability so that

I can plan ahead.



 Yes, I want my

rate to remain stable.



 No, my loan rate

can vary each year.


 

This rate may

change up to 5

times over the

loan term.



This rate will stay

the same for the

loan term.



 After the first 5 years,

this rate may

be adjusted annually

over the loan term.



Are you okay

with regular changes in

your monthly payment?



No, I like a

fairly consistent

monthly payment.



No, I want my

monthly payment

to stay the same

for the life of

my loan



Yes, I'm fine with

monthly payment changes.


 

This is the most

stable ARM with

the fewest

adjustments.



This mortgage will

not be adjusted

from year to year.



This ARM has a

yearly adjustment

after the first five

years. Payments may

go up or down

depending on rates

at the time of

adjustment.



Which is more

important to you; 

a lower rate or more

consistent monthly payments?



I'm not sure if I will stay here

for more than a decade,

so I would like lower monthly

payments to start
.



What's most important

to me is knowing that

I have secured my rate

and payment for the life

of my loan
.




This isn't my forever

home, so I'd like a lower

interest rate for the

few years I'll lie here
.


 


 

The 5/5 ARM will

have lower

interest rate and

payment initially,

but maybe higher 

after adjustments.



The 30 - year fixed

mortgage payments

might be higher, but

will remain fixed for

the life of the loan-

potentially with a

lower average rate

for the loan term.



This loan product

will have the

lowest payment

and interest rate,

at least during the first

five years.