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Personal

 

5/5 ARM

Get the security of a fixed rate adjustment every five years and a lifetime cap of 5% – your rate will not go up more than 5% above your initial rate!

Introducing the Affordable and Secure 5/5 ARM That Only Adjusts Every 5 Years!

Are you looking for an affordable home financing option that offers flexibility and security? Our adjustable rate 5/5 mortgages may be the answer for you. The rate, principal and interest payments cannot change for the first 5 years of the mortgage. After the first 5 years, the interest rate resets for another 5-year fixed term. The rate adjustment cap of 2% is based on the 5-year constant maturity treasury, or CMT, which means your mortgage can never go up more than 2% of the previous 5-year fixed-rate term. Also, for your convenience, there is a lifetime cap of 5%, which means your rate will not go up more than 5% above the initial rate. The amortization schedule is based on 30 years to help keep your payments low. This type of mortgage is a great choice if you are looking for a low rate with the security of a fixed-rate adjustment every five years.

Features and Benefits:

  • Affordable since the initial rate is lower than conventional mortgage rate
  • Secure because there is an initial 5 year term with interest rate adjustments only every 5 years
  • Affordable since intangible tax fee waived for Credit Union members

Payments are conveniently transferred automatically from a Power Financial Credit Union savings or checking account.

Calculators

Note: You will need the Java software to view the financial calculators. If you do not have Java enabled, you can download it for free by clicking on the icon.
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Applicable for loans financed for $417,000 or less. For loans over $417,000, please contact us for a quote. Rate is variable with a periodic cap of 2 percentage points every 5 years with a lifetime maximum cap of 5%. Other restrictions may apply. Floor rate is equal to initial rate. Adjustable Rate Mortgages are amortized over 30-year term.
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