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Adjustable Rate Mortgage Options

Adjustable rates for flexible homeowners

With an adjustable rate mortgage, your mortgage rate will fluctuate every six months after the initial fixed rate period, which could amount to big savings. And with our current low rate environment, it’s never been a better time to apply now or contact our local lending experts to learn more.

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Adjustable Mortgage Rates

Adjustable Mortgage Rates
5/6 ARM 1 7/6 ARM 1 10/6 ARM 1
Interest Rate 2.250% 2.375% 2.500%
Annual Percentage Rate 2.740% 2.717% 2.728%
Time Initial Rate is Fixed 5 years 7 years 10 years
Points 1.000% 0.875% 1.000%
Monthly Principal & Interest Payment
per $100,000 borrowed
$382.252 $388.652 $395.122
Current Adjusted Rate 2.875% 2.875% 2.875%
Current Adjusted Payment $414.89 $414.89 $414.89
Reset Period 6 months 6 months 6 months
First Change Cap +2% / -2% +5% / -5% +5% / -5%
Subsequent Change Cap +1% / -1% +1% / -1% +1% / -1%
Maximum Life Time Caps Over Initial Interest Rate 5% 5% 5%
Floor Rate 2.75% 2.75% 2.75%

Interest Rates effective 11/27/2020 and are based on a 45-day lock period for purchase transactions.

1Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every 6 months according to the then current index.

2Monthly payments are per $100,000 borrowed and do not include additional costs such as taxes and insurance. Actual monthly payment will be greater.

3Since the index in the future is unknown, the Current Adjusted Interest Rate and Current Adjusted Payment are based on the current index plus the margin at the time of the effective date shown above, and are only an example of what your rate and payment would be if your loan adjustment date was the date shown above. The Adjusted Interest Rate and Adjusted Payment may differ when the term for your initial rate expires. Your mortgage will change on the adjustment dates and will be equal to an index, which is based on the 30 Day Average of the Secured Overnight Funding Rate (SOFR) as published daily by the Federal Reserve Bank of New York, plus a margin of 2.75%. For more information on the SOFR index, please visit the Federal Reserve Bank of New York here.

Adjustable Mortgage Rates

Interest Rate
2.250%
Annual Percentage Rate
2.740%
Time Initial Rate is Fixed
5 years
Points
1.000%
Monthly Principal & Interest Payment
per $100,000 borrowed
$382.252
Current Adjusted Rate
2.875%
Current Adjusted Payment
$414.89
Reset Period
6 months
First Change Cap
+2% / -2%
Subsequent Change Cap
+1% / -1%
Maximum Life Time Caps Over Initial Interest Rate
5%
Floor Rate
2.75%
Interest Rate
2.375%
Annual Percentage Rate
2.717%
Time Initial Rate is Fixed
7 years
Points
0.875%
Monthly Principal & Interest Payment
per $100,000 borrowed
$388.652
Current Adjusted Rate
2.875%
Current Adjusted Payment
$414.89
Reset Period
6 months
First Change Cap
+5% / -5%
Subsequent Change Cap
+1% / -1%
Maximum Life Time Caps Over Initial Interest Rate
5%
Floor Rate
2.75%
Interest Rate
2.500%
Annual Percentage Rate
2.728%
Time Initial Rate is Fixed
10 years
Points
1.000%
Monthly Principal & Interest Payment
per $100,000 borrowed
$395.122
Current Adjusted Rate
2.875%
Current Adjusted Payment
$414.89
Reset Period
6 months
First Change Cap
+5% / -5%
Subsequent Change Cap
+1% / -1%
Maximum Life Time Caps Over Initial Interest Rate
5%
Floor Rate
2.75%

Interest Rates effective 11/27/2020 and are based on a 45-day lock period for purchase transactions.

1Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every 6 months according to the then current index.

2Monthly payments are per $100,000 borrowed and do not include additional costs such as taxes and insurance. Actual monthly payment will be greater.

3Since the index in the future is unknown, the Current Adjusted Interest Rate and Current Adjusted Payment are based on the current index plus the margin at the time of the effective date shown above, and are only an example of what your rate and payment would be if your loan adjustment date was the date shown above. The Adjusted Interest Rate and Adjusted Payment may differ when the term for your initial rate expires. Your mortgage will change on the adjustment dates and will be equal to an index, which is based on the 30 Day Average of the Secured Overnight Funding Rate (SOFR) as published daily by the Federal Reserve Bank of New York, plus a margin of 2.75%. For more information on the SOFR index, please visit the Federal Reserve Bank of New York here.

Interest Rates effective 11/27/2020 and are based on a 45-day lock period for purchase transactions.

1Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every 6 months according to the then current index.

2Monthly payments are per $100,000 borrowed and do not include additional costs such as taxes and insurance. Actual monthly payment will be greater.

3Since the index in the future is unknown, the Current Adjusted Interest Rate and Current Adjusted Payment are based on the current index plus the margin at the time of the effective date shown above, and are only an example of what your rate and payment would be if your loan adjustment date was the date shown above. The Adjusted Interest Rate and Adjusted Payment may differ when the term for your initial rate expires. Your mortgage will change on the adjustment dates and will be equal to an index, which is based on the 30 Day Average of the Secured Overnight Funding Rate (SOFR) as published daily by the Federal Reserve Bank of New York, plus a margin of 2.75%. For more information on the SOFR index, please visit the Federal Reserve Bank of New York here.

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jumbo loans

Adjustable Mortgage Rates

Adjustable Mortgage Rates
5/6 ARM 1 7/6 ARM 1 10/6 ARM 1
Interest Rate 2.250% 2.375% 2.500%
Annual Percentage Rate 2.740% 2.717% 2.728%
Time Initial Rate is Fixed 5 Years 7 Years 10 Years
Points 1.000% 0.875% 1.000%
Monthly Principal & Interest Payment
per $100,000 borrowed
$382.252 $388.652 $395.122
Current Adjusted Rate 2.875% 2.875% 2.875%
Current Adjusted Payment $414.89 $414.89 $414.89
Reset Period 6 months 6 months 6 months
First Change Cap +2% / -2% +5% / -5% +5% / -5%
Subsequent Change cap +1% / -1% +1% / -1% +1% / -1%
Maximum Life Time Caps Over Initial Interest Rate 5% 5% 5%
Floor Rate 2.75% 2.75% 2.75%

Interest Rates effective 11/27/2020 and are based on a 45-day lock period for purchase transactions.

For loan amounts greater than $765,600.

1Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every 6 months according to the then current index.

2Monthly payments are per $100,000 borrowed and do not include additional costs such as taxes and insurance. Actual monthly payment will be greater.

3Since the index in the future is unknown, the Current Adjusted Interest Rate and Current Adjusted Payment are based on the current index plus the margin at the time of the effective date shown above, and are only an example of what your rate and payment would be if your loan adjustment date was the date shown above. The Adjusted Interest Rate and Adjusted Payment may differ when the term for your initial rate expires. Your mortgage will change on the adjustment dates and will be equal to an index, which is based on the 30 Day Average of the Secured Overnight Funding Rate (SOFR) as published daily by the Federal Reserve Bank of New York, plus a margin of 2.75%. For more information on the SOFR index, please visit the Federal Reserve Bank of New York here.

jumbo loans

Adjustable Mortgage Rates

Interest Rate
2.250%
Annual Percentage Rate
2.740%
Time Initial Rate is Fixed
5 Years
Points
1.000%
Monthly Principal & Interest Payment
per $100,000 borrowed
$382.252
Current Adjusted Rate
2.875%
Current Adjusted Payment
$414.89
Reset Period
6 months
First Change Cap
+2% / -2%
Subsequent Change cap
+1% / -1%
Maximum Life Time Caps Over Initial Interest Rate
5%
Floor Rate
2.75%
Interest Rate
2.375%
Annual Percentage Rate
2.717%
Time Initial Rate is Fixed
7 Years
Points
0.875%
Monthly Principal & Interest Payment
per $100,000 borrowed
$388.652
Current Adjusted Rate
2.875%
Current Adjusted Payment
$414.89
Reset Period
6 months
First Change Cap
+5% / -5%
Subsequent Change cap
+1% / -1%
Maximum Life Time Caps Over Initial Interest Rate
5%
Floor Rate
2.75%
Interest Rate
2.500%
Annual Percentage Rate
2.728%
Time Initial Rate is Fixed
10 Years
Points
1.000%
Monthly Principal & Interest Payment
per $100,000 borrowed
$395.122
Current Adjusted Rate
2.875%
Current Adjusted Payment
$414.89
Reset Period
6 months
First Change Cap
+5% / -5%
Subsequent Change cap
+1% / -1%
Maximum Life Time Caps Over Initial Interest Rate
5%
Floor Rate
2.75%

Interest Rates effective 11/27/2020 and are based on a 45-day lock period for purchase transactions.

For loan amounts greater than $765,600.

1Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every 6 months according to the then current index.

2Monthly payments are per $100,000 borrowed and do not include additional costs such as taxes and insurance. Actual monthly payment will be greater.

3Since the index in the future is unknown, the Current Adjusted Interest Rate and Current Adjusted Payment are based on the current index plus the margin at the time of the effective date shown above, and are only an example of what your rate and payment would be if your loan adjustment date was the date shown above. The Adjusted Interest Rate and Adjusted Payment may differ when the term for your initial rate expires. Your mortgage will change on the adjustment dates and will be equal to an index, which is based on the 30 Day Average of the Secured Overnight Funding Rate (SOFR) as published daily by the Federal Reserve Bank of New York, plus a margin of 2.75%. For more information on the SOFR index, please visit the Federal Reserve Bank of New York here.

Interest Rates effective 11/27/2020 and are based on a 45-day lock period for purchase transactions.

For loan amounts greater than $765,600.

1Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease every 6 months according to the then current index.

2Monthly payments are per $100,000 borrowed and do not include additional costs such as taxes and insurance. Actual monthly payment will be greater.

3Since the index in the future is unknown, the Current Adjusted Interest Rate and Current Adjusted Payment are based on the current index plus the margin at the time of the effective date shown above, and are only an example of what your rate and payment would be if your loan adjustment date was the date shown above. The Adjusted Interest Rate and Adjusted Payment may differ when the term for your initial rate expires. Your mortgage will change on the adjustment dates and will be equal to an index, which is based on the 30 Day Average of the Secured Overnight Funding Rate (SOFR) as published daily by the Federal Reserve Bank of New York, plus a margin of 2.75%. For more information on the SOFR index, please visit the Federal Reserve Bank of New York here.

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