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Adjustable Rate Mortgage

A Community First Adjustable Rate Mortgage (ARM) is an great way to save money.  An ARM offers a lower up front rate and the ability to make bi-weekly payments which together, could add up to huge savings for you.  With a lower interest rate for up to 7 years you have the potential of saving hundreds to thousands of dollars during the term of the loan.  At the end of the term refinance!

An Adjustable Rate Mortgage is an ideal choice for borrowers who:
  • want a lower monthly payment for up to seven years
  • may only live in their home for seven years or less
  • want to save hundreds, and in the case of some loans, thousands of dollars during the first several years of the loan 
  • make bi-weekly payment to reduce the interest paid and reduce the amount of time it takes to pay off their home
  • need to borrow more than the fixed rate loan qualifications will allow
ARM Loan Benefits:
  • 1 year, 3year, 5 year or 7 year terms with amortization up to 30 years
  • Low closing costs with no points or origination fees
  • Weekly or bi-weekly payments that will save you thousands in interest 
  • Quick decisions made locally
  • Low down payment
  • Local servicing
  • No pre-payment penalty
  • Lower monthly payments than a fixed-rate mortgage
  • Pay off your loan faster with bi-weekly payments  

For additional information, to schedule an appointment or to begin your application please contact us today!