Adjustable Rate Mortgages
5/1, 7/1, and 10/1

Features

• Up to 80% combined loan to value (CLTV)¹ financing
• Conforming loan amounts up to $417,000
• Jumbo loan amounts up to $1,000,000
• Fixed payments for the first 5, 7, or 10 years
• 30 year term
• Lower rates if points are purchased²
• Cash-out options for refinancing only³

An Adjustable Rate Mortgage (ARM) is a popular loan choice. An ARM's lower initial interest rate translates into lower monthly payments. After the initial introduction period—either five, seven, or ten years—the rate adjusts yearly. Annual and lifetime ceilings limit how much the rate can rise over the loan term.

Consider An Adjustable Rate Loan If You:

• Plan on moving or changing homes within 3 to 5 years
• Expect your income to rise in the coming years
• Could handle larger monthly payments should interest rates rise

Consider A Fixed Rate Loan If You:

• Plan on staying in your home for many years
• Prefer an unchanging, lower monthly payment
• Want to take advantage of larger mortgage tax deductions early in the loan

Apply online, call our Loan Services Center at 877-254-9328, visit your local branch, or request a Mortgage Packet today.

¹ 5/1 ARM - $350,000 loan with a 5.125% interest rate with 1 point (4.730% Annual Percentage Rate) (effective as of December 18, 2008) would have 360 monthly payments of $1905.70.
² Rates subject to change at any time. The rate changes are based on 1 year CMT, plus a margin of 2.75%.
³ The following are subject to a rate increases in accordance with federal guidelines: all condominiums, multi-units, and cash-out refinances.

Note: All properties must be owner occupied. Manufactured or mobile homes are not eligible for financing.