Flexible finance options for your new home
If you're considering a home purchase, but not sure how long you will be in your home, then an adjustable rate mortgage may be a great option for you. FreeStar Financial Credit Union offers a choice of 3, 5, or 7 year terms and, unlike other lenders, our ARM rates adjust at the 3, 5 or 7 year marks, not 1 year after the initial term. Mortgage payments are calculated on a 30 year amortization period and our adjustable rate loans allow up to 90% loan-to-value without requiring Private Mortgage Insurance (PMI).
Rates are based upon the term of mortgage selected and the credit history of the borrower.
- 3 year ARM adjusts every 3 years
- 5 year ARM adjusts every 5 years
- 7 year ARM adjusts every 7 years
|Adjustable Rate Mortgages|
|Effective Date: October 1, 2020|
|Type||APR* As Low As|
|*APR = Annual Percentage Rate. Rate is “as low as” and may change based on credit history, collateral, term, and other determining factors. NMLS#411386|
|A 3-year ARM with an APR (annual percentage rate) as low as 4.500% for $100,000 (20% down/80% LTV) would have a monthly payment of $506.69.|