More home for your money
An adjustable rate mortgage may significantly reduce your initial payments.
Find out if one is right for you below.
Why should you consider
an adjustable rate?
With an adjustable rate mortgage, your rate fluctuates with the market.
You might consider one if you:
Plan to stay in the home you buy for only a few years
Expect to make more money in the future
Want to keep your payments lower during the beginning years of your mortgage
Your perfect mortgage exists.
This loan is not intended for new purchases. We also finance traditional mortgages if you are interested. All of our traditional home loans are done in partnership with Consolidated Community Credit Union, so we can offer you the best possible rates and terms.
Credit limits up to $500,000
Set interest rates up to 5 years
No prepayment penalties
No application fees
Origination fee: $1,500
Rates as low as
Homeowners Insurance: 100
Mortgage Insurance: 167
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Apply
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Review
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Approval
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Rates and terms may vary based on a borrower’s credit qualifications. All loan rates are determined by Credit Union management and subject to change at any time. The Credit Union may offer other rates in the future. All services offered by the Credit Union shall be subject to applicable laws of the State of Oregon, federal laws and regulations, Credit Union bylaws and all regulations, rules and practices now or hereafter adopted by the Credit Union. All loans subject to credit approval.
All ARM (Adjustable Rate Mortgages) products reprice with the 1 year US Treasury Securities, also known as TCM (Treasury Constant Maturities). The maximum loan amount is $500,000 and maximum term is 30 years for primary residence only. The maximum term for non-owner occupied (vacation/secondary homes or rentals) is 15 years. The maximum we will lend for Vacation homes is $250,000. The maximum we will lend for Rental property is $200,000.
Origination fees applicable: Home Equity Line of Credit – no fee, Home Equity Loan $500 and ARM $1,500. The borrower is responsible for all third party fees — such as appraisal, title insurance, filing, flood determination and/or tax service fees if applicable.
Maximum loan amount is $500,000
Rate quoted is for credit score of 640 or better. First trust deed position only. The maximum loan to value is 75%; maximum term is 30 years.
The only ARM option for Vacation/Secondary or Rental Homes is the 3/1 ARM.
Currently only available in these states: AK,AZ,CA,ID,MT,NM,NV,OR,UT,WA
We Do Business in Accordance With the Federal Fair Housing Law and the Equal Credit Opportunity Act
Advanced Options
Property Tax Rate
The tax that you are required to pay as a property owner levied by the city or municipality. Lookup your county rate or state average rate for a more accurate calculation.
Homeowners Insurance (Monthly)
The standard insurance policy that covers damage to your property and the things you keep in it. The average annual homeowners insurance premium is around $1,200.
HOA Fees (Monthly)
These are dues that are used by a homeowners association toward maintenance of common areas used by all homeowners in a housing development or complex.
Private Mortgage Insurance Rate
The premium for the insurance policy for FHA loans and conventional mortgages if your down payment is less than 20%. PMI typically costs between 0.5% to 1% of the entire loan amount on an annual basis. Only calculated if down payment is less than 20% of mortgage amount.
Disclosure
This calculation represents an estimate. Calculation does not factor credit score. Default input values are estimates.
Rates
| ARM5,6,7,14,15** Account Type | Rate | APR16 | Financing | Terms |
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1/1 ARM - First Trust Deed Only |
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3/1 ARM - First Trust Deed Only |
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5/1 ARM - First Trust Deed Only |
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f - fixed
v - variable
a - adjustable
APR=Annual Percentage Rate.
Rates and terms may vary based on a borrower’s credit qualifications. All loan rates are determined by Credit Union management and subject to change at any time. The Credit Union may offer other rates in the future. All services offered by the Credit Union shall be subject to applicable laws of the State of Oregon, federal laws and regulations, Credit Union bylaws and all regulations, rules and practices now or hereafter adopted by the Credit Union. All loans subject to credit approval.
*The Annual Percentage Rate is variable and is figured on the following basis: The Annual Percentage Rate will be calculated on the last day of each calendar quarter. The Credit Union starts by calculating the index, which is the average auction rate on 26-week U.S. Treasury Bills for the prior 3 months, rounded up to the nearest ¼%. The Credit Union adds a margin to the index. The amount of the margin is based on your credit profile and other factors the Credit Union deems appropriate. The margin for your account will be disclosed in a document provided when your account is opened. The total of the index plus the amount the Credit Union adds is the Annual Percentage Rate. The Annual Percentage Rate is divided by 12 to produce the monthly Periodic Rate. The adjustment of the Annual Percentage Rate affects your entire outstanding balance and is effective for the second full statement cycle following the calculation date. The minimum Annual Percentage Rate on your account is 8.75%. We will review your credit profile from time to time and may adjust the amount of the margin (and the resulting Periodic Rate and Annual Percentage Rate) based on your credit profile.
**All ARM (Adjustable Rate Mortgages) products reprice with the 1 year US Treasury Securities, also known as TCM (Treasury Constant Maturities). The maximum loan amount is $500,000 and maximum term is 30 years for primary residence only. The maximum term for non-owner occupied (vacation/secondary homes or rentals) is 15 years. The maximum we will lend for Vacation homes is $250,000. The maximum we will lend for Rental property is $200,000.
5 Origination fees applicable: Home Equity Line of Credit - no fee, Home Equity Loan $500 and ARM $1,500. The borrower is responsible for all third party fees — such as appraisal, title insurance, filing, flood determination and/or tax service fees if applicable.
6 Minimum loan amount is $50,000, maximum loan amount is $500,000.
7 Rate quoted is for credit score of 640 or better. First trust deed position only. The maximum loan to value is 80%; maximum term is 30 years.
14 The only ARM option for Vacation/Secondary or Rental Homes is the 3/1 ARM.
15 Currently only available in these states: AK,AZ,CA,ID,MT,NV,OR,UT,WA
16 The APR is based on a loan amount of $160,000 and includes applicable origination fees.
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