In addition to standard programs that adjust annually, our programs provide an initial fixed rate from three to ten years before the rate adjusts at all. These options are best for those who want added payment stability and lower monthly expense.

1/1 ARM

3/1 ARM

5/1 Year ARM

7/1 Year ARM

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For All Adjustable Rate Mortgage

For example, on a 5/1 1-Year Constant Maturity Treasury Index (1-Year CMT) Adjustable Rate Mortgage (ARM), the interest rate and payment are fixed for the first five years of the loan. The interest rate and payment may adjust every twelve months thereafter and may not increase or decrease more than 2.0% at each twelve-month adjustment. The interest rate cannot increase more than 5% over the term of the loan. For a 5/1 1-Year CMT ARM for $200,000 with a 30-year term and an initial interest rate of 5.698% APR, repayment will consist of 60 monthly payments of $1,119.95. If the interest rate were to increase by the maximum five percentage points to 10.698% APR, then the monthly payment would increase from $1,119.95 to a maximum of $1,726.62 in the fifth year. Other rates and terms are available. The terms used in this example are for illustrative purposes only and the actual terms you receive may be different depending on your individual circumstances.

Application fees apply.

Mortgage loans are originated by Space Coast credit Union, and are subject to credit approval, verification and collateral evaluation. Programs, rates, terms and conditions are subject to change without notice. Certain restrictions apply.