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Adjustable-Rate Mortgage (ARM) Loans

Find the right mortgage loan to match the perfect house.

CMCU offers a variety of adjustable-rate mortgage loan options for borrowers. An ARM loan has an interest rate which varies throughout the life of the loan. There is an initial period where the interest rate is fixed, and then the rate resets periodically at an interval which is determined in your loan terms. Your local CMCU mortgage lender can help you determine if an ARM loan is the right option for you.

Reviewing mortgage loan terms on computer together
 
 

Why ARM?

An ARM loan might be a good choice if you're planning on paying off most of the mortgage loan before the fixed interest rate period ends or if you won't be financially burdened when the rate changes.

Rate and Payment Caps

When your fixed-rate period ends, your interest and payment amount will adjust. However, based on the terms of your loan, your interest rate and payment can only adjust within a certain specified amount.

Loan Terms Example

5/1: 5 years at a fixed interest rate, followed by a possible annual rate adjustment for the remainder of the loan term.

 

 
 

 

Adjustable-Rate (ARM) Mortgage Loan Calculator

Estimate your monthly payment for an adjustable-rate mortgage loan.

  • Loan Amount:
  • Interest rate (%):
  • Term:
  • Number of months before first rate adjustment:
  • Number of months between adjustments:
  • Expected adjustment (%):
  • Interest rate cap (%):
  • Beginning monthly principal and interest payment:
  • Total monthly payments:
  • Total interest:
  • Maximum monthly payment:

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Calculating mortgage payment
 
 

HELPFUL TIP

Meeting with a mortgage lender about your loan options is a great idea. They can help recommend the best loan for your situation and future.

Apply for a mortgage loan today!

We’re ready to help finance your perfect home with your perfect mortgage.

Apply Now

Mortgage Programs

Check out some of the mortgage loan options available with CMCU:

BUYING A
HOME HUB


Go to the mortgage homepage to learn more about the process.

CONVENTIONAL
MORTGAGE


Traditional mortgage loans with fixed rates throughout the term of the loan.

FIRST-TIME
HOME BUYERS


Learn more about purchasing your first home and your options available.

LAND
LOANS


Loans are available for the purchase of property such as for hunting or investment.

FHA
LOANS


Funds are available from the Federal Housing Administration to low-moderate income families.

HOMEREADY BY
FANNIE MAE


A program for credit-worthy low-to-moderate income borrowers or homes in low-income communities.

RURAL
DEVELOPMENT


A program for low and moderate income families living in rural areas.


VETERANS
AFFAIRS (VA)


A VA loan helps provide home financing for eligible Servicemembers, Veterans, and surviving spouses.

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Please note, while you are undergoing the mortgage loan process, it is best that you check with your mortgage lender before opening any other loans at the same time.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.

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