Adjustable-Rate Mortgage Loans
Enjoy low rates, manageable payments, and flexibility for what’s ahead.
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Adjustable-Rate Mortgage (ARM) Loan Benefits
Lower Initial Rate, Lower Payments
ARM mortgages start at a lower rate than fixed-rate loans, so your monthly payment is lower too.
Short-Term Flexibility
Ideal if you are planning to sell your home or refinance your mortgage within a few years.
Choice of Refinance Options
Build equity, lower your monthly payment, or pay off your house faster — the choice is yours!
We’ll Cover the Appraisal Costs
At TVFCU, we pay your home appraisal fee, helping reduce your costs at closing.*
Lower Initial Rate, Lower Payments
ARM mortgages start at a lower rate than fixed-rate loans, so your monthly payment is lower too.
Short-Term Flexibility
Ideal if you are planning to sell your home or refinance your mortgage within a few years.
Choice of Refinance Options
Build equity, lower your monthly payment, or pay off your house faster — the choice is yours!
We’ll Cover the Appraisal Costs
At TVFCU, we pay your home appraisal fee, helping reduce your costs at closing.*
We’ll Cover Your Appraisal Costs
We’re making homeownership easier for all of us! We’ll cover your entire home appraisal fee, saving you over $600. This offer is applicable under the following conditions:
- Purchase transaction resulting in new money to TVFCU in the amount of $25,000 or greater.
- Refinance of a mortgage with another institution, resulting in new money to TVFCU in the amount of $25,000 or greater.
- Refinance of an existing TVFCU mortgage, resulting in new money to TVFCU in the amount of $25,000 or greater.
- Offer valid as of January 1, 2025, subject to change. Exclusions apply. Offer valid on portfolio loans only.
Own Your Home for Less With a Low-Cost Adjustable Rate Mortgage
Are high mortgage payments preventing you from owning a home of your own? An Adjustable-Rate Mortgage (ARM) lets you become a homeowner for less.
Enjoy lower initial rates — and lower monthly payments — than most fixed-rate alternatives. And, once annual rate adjustments begin, you’ll be able to continue to make payments, refinance your loan, or sell.
Here’s what you should know before you apply:
- Terms: TVFCU offers adjustable-rate loans with 5, 7, and 10-year initial rate periods.
- Rates: Initial interest rates are lower than fixed-rate loans, and may be adjusted downwards if interest rates fall.
- Down payments: Loan down payments of less than 20% may require private mortgage insurance (PMI).
- Eligibility: Certain qualifying criteria may apply, including a suitable credit score or income requirements, to ensure that you can afford your adjustable-rate loan.
- Free Appraisal: At TVFCU, we’ll pay for your entire appraisal fee, saving you over $600 upfront to make your path to homeownership easier.
- How to apply: Apply online or come into one of our locations for in-person assistance.
Owning your own home is possible with an adjustable-rate loan from the #1 mortgage lender in the area. We’re here to support you at every stage of your journey to homeownership with quality mortgages and years of expertise in local housing markets.
Get the keys to your very own home with help from your local lender. Get started today!
Apply NowView Rates
ARMs vs. Fixed-Rate Mortgages
ARMs and fixed-rate loans are different ways to approach homeownership. A fixed-rate mortgage lets you lock in a rate for the full-term of your loan. You’ll know exactly how much you’ll pay each month for the life of the loan.
An ARM offers a lower interest rate for a fixed initial period. Once this period expires, rates are adjusted to align them more closely with prevailing rates in the wider market. That means your rate may rise or fall each year.
An ARM can be a good choice if you expect a change in your situation before the fixed term ends, or you are not sure you’ll stay in a property for the long-term. It allows you to save money up front, with the option to sell, refinance, or pay the new rate once the adjustment period begins.
ARM Loan Rates
Complete the form to instantly get the most accurate and up-to-date adjustable rates at TVFCU. This rate calculator will help you compare different mortgage options and visualize different scenarios to find the mortgage that fits you best.
Apply NowHow to Apply for An Adjustable Rate Mortgage
Applying for an adjustable-rate mortgage loan is straightforward. Just follow these steps!
- Step 1 - Get Pre-Qualified
Apply online and provide documents so that you can get pre-qualified for the full purchase price you plan to spend on your new home. - Step 2 - Choose a Home
It’s time to go househunting for a property that meets your needs today — and for the foreseeable future. - Step 3 - Close Your Mortgage
We’ll process your loan locally and skip the appraisal fee. Then it’s time to choose your terms, sign documents, and get your keys!
Adjustable-Rate Mortgage Loan FAQs
An adjustable-rate mortgage is a home loan with an interest rate that changes periodically after an initial fixed-rate period. The rate adjusts in the future based on the index, which can cause your monthly payment to increase or decrease over time.
ARMs start with a fixed rate for a set number of years (such as 5, 7, or 10). After that period, the interest rate adjusts at scheduled intervals every 6 months based on an indexed rate and including a margin set by the lender. Most ARMs also include a rate cap limiting how much a rate can rise or fall over the previous period.
It depends on the loan terms. Some ARMs adjust once a year, while others adjust every six months. Check your loan agreement to find out your adjustment schedule.
Not necessarily. Down payment requirements for ARMs are similar to fixed-rate mortgages and depend on the loan program and lender guidelines.
An ARM may be a good option if you plan to move, refinance, or sell your home before the fixed-rate period ends. It can also work for buyers who want a lower initial monthly payment.
The main risk is that your ARM’s interest rate — and monthly payment — could increase after the fixed-rate period ends. It’s important to consider whether your budget can handle potential rate increases.
Calculate Your Rate and Monthly Payment
Embarking on a homeownership journey is a major milestone, and choosing the right mortgage is crucial. These calculators can quickly help you determine the loan type and amount that’s right for you.
View CalculatorsOther Mortgage Options You May Consider
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