Adjustable Rate Mortgages

Adjustable Rate Mortgages (ARMs):  Principal & Interest 1/1, 3/1, 5/1, 7/1, and 10/1 ARMs

Adjustable Rate Mortgages (ARMs) provide an initial interest rate that is lower than the average fixed rate mortgage. The lower rate provides you with an initial lower payment, which translates into increased purchasing power. CFCU ARM's are available in 15-, and 30-year terms and provide an initial fixed rate period of 1, 3, 5, 7, or 10 years before the rate adjusts. The interest rate usually adjusts annually thereafter. 

CFCU Exclusive ARM Programs

As a member of CFCU, you have access to our exclusive 3/3 and 5/5 ARMs. Instead of the payment adjusting annually after the initial fixed rate period, we provide our members with the added stability of longer adjustment periods of 3 and 5 years. This means your loan is subject to less frequent rate changes when compared to a typical ARM.

Choose a mortgage that gives you the freedom of choice. Whether you're moving up to your next home or simply managing your cash flow and interest expenses
-- the choice is up to you.

3/3 ARM 15 Year

Best Choice If:

You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 3 years, adjusts every 3 years thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust every 3 years
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 3/3 ARM 30 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 3 years, adjusts every 3 years thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust every 3 years
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 5/5 ARM 15 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 5 years, may adjust every 5 years thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust every 5 years
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 5/5 ARM 30 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 5 years, may adjust every 5 years thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust every 5 years
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 1/1 LARM 15 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • You do not plan on staying in the home for a long period
  • Advantages:

  • Allows for higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 1/1 LARM 30 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • You do not plan on staying in the home for a long period
  • Advantages:

  • Allows for higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 10/1 LARM 30 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 10 years, may adjust annually thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust annually
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 3/1 LARM 15 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first three years, adjusts annually thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust frequently
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 3/1 LARM 30 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first three years, adjusts annually thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust frequently
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 5/1 LARM 15 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 5 years, may adjust annually thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust annually
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 5/1 LARM 30 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 5 years, may adjust annually thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust annually
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 7/1 LARM 15 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 7 years, may adjust annually thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust annually
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
  • 7/1 LARM 30 Year

    Best Choice If:

    You want a loan with:
  • Lower initial monthly payments and rate
  • Payments that adjust up and down with market movements
  • Benefits of both a Fixed and ARM product
  • Advantages:

  • Interest rate stays fixed for the first 7 years, may adjust annually thereafter
  • Allows for a higher loan amount qualification and enhanced buying power
  • No prepayment penalty
  • Automatic payment option available
  • Disadvantages:

  • Interest rate and monthly payments may adjust annually
  • Riskier if you do not have the income to cover the potential changes in monthly payment
  • Interest rate can rise above the current fixed rates over time
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