Get lower rates on your mortgage to purchase your next home
With an Adjustable Rate Mortgage from SFCU, you can get low fixed rates for a time to keep your monthly payments low and more money in your account.

Low Initial Rate
Enjoy a low fixed rates for the first 60-120 months to get a head start making lower payments.

Flexibility
Flexibility for borrowers who plan to move in the future or who anticipate their income increasing.

Interest Rate Caps
Adjustment period and lifetime interest rate adjustment caps make it easy to predict how much your payments could be in the long run.

Various ARM Options
Choose between 5/1, 7/1 or 10/1 ARM options to find the mortgage loan that works best for your budget and goals.

More Purchasing Options
Use your ARM funds to purchase the property that best suits your needs, whether it's a home, land, or mobile home for more buying flexibility.
Rates
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Monthly Payment
Fixed rates make predictable payments
Depending on the ARM option you choose, you can enjoy low fixed rates for the first 60-120 months. Fixed rates make it easy to predict your monthly payments and get a head start on paying off your loan.

Choose a loan that works best for your budget and goals
With an Adjustable Rate Mortgage from SFCU, you can get a competitive 15/15 ARM to keep your monthly payments low and more money in your account. Check out all the advantages of financing your first home with SFCU.

5/1 ARM
An Adjustable Rate Mortgage with a low, fixed rate for the first five years. The rate then changes by no more than 2% every one year following the initial fixed-rate period.
7/1 ARM
An Adjustable Rate Mortgage with a low, fixed rate for the first seven years. The rate then changes by no more than 2% every one year following the initial fixed-rate period.
10/1 ARM
An Adjustable Rate Mortgage with a low, fixed rate for the first ten years. The rate then changes by no more than 2% every one year following the initial fixed-rate period.
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1
Complete an application
Apply with one of our expert Mortgage Specialist
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2
Get an answer
We'll crunch the numbers and let you know if you're approved.
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3
Buy your home
With your mortgage funds you can purchase your home
Have a question? Get in touch with us
Low initial rates make homebuying more affordable
The home you need is within reach with an Adjustable Rate Mortgage from SFCU. ARM loans typically have lower rates for the initial fixed period, making it easier to afford the home you need.
Adjustable Rate Mortgages (ARM) Rates
Type of loan | Initial APR | Margin | Rate change frequency after initial period | Max rate change per adjustment period | Lifetime Cap | Index | Floor | Monthly1 payment example |
---|---|---|---|---|---|---|---|---|
5/1 ARM |
5.625% |
2.250% |
annually |
2.00% |
5.00% |
1 Yr - TCM |
3.00% |
$575.66 |
7/1 ARM |
6.125% |
2.250% |
annually |
2.00% |
5.00% |
1 Yr - TCM |
3.00% |
$607.61 |
10/1 ARM |
6.250% |
2.250% |
annually |
2.00% |
5.00% |
1 Yr - TCM |
3.00% |
$615.72 |
5/1 ARM Vacation Home - 15 Year Amortization |
6.625% |
2.250% |
annually |
2.00% |
5.00% |
1 Yr - TCM |
3.00% |
$877.99 |
7/1 ARM Vacation Home - 15 Year Amortization |
7.125% |
2.250% |
annually |
2.00% |
5.00% |
1 Yr - TCM |
3.00% |
$905.83 |
10/1 ARM Vacation Home - 15 Year Amortization |
7.250% |
2.250% |
annually |
2.00% |
5.00% |
1 Yr - TCM |
3.00% |
$912.86 |
Manufactured/ Mobile Home with Land 5/5 ARM - 20 Yr Amortization |
7.250% |
2.750% |
every 5 years |
2.00% |
5.00% |
5 Yr - TCM |
5.00% |
$790.38 |
15/15 First Time Home Buyer Program (100% Financing) |
7.375% |
2.500% |
One Time Change |
2.00% |
2.00% |
5 Yr - TCM |
5.00% |
$690.68 |
as of 12/07/2023
¹ Monthly Payment Examples assume a loan amount of $100,000. Taxes and insurance premiums are not calculated into the example which could result in a higher monthly payment.
5/1 Vacation & 7/1 Vacation payment examples are based on a 15-year amortization. The Manufactured/Mobile w/Land is based on a 20-year amortization.
- Credit Union membership is required with minimum deposit of $5.
- 1st Mortgages must be a 1-4 unit & owner occupied, except for the First Time Home Buyer Program, bare land, and vacation/second home programs.
- Vacation/Second Homes have a maximum LTV of 80%. They are amortized over 15 years.
- Manufactured/Mobile with Land loan has a maximum LTV of 80%. Purchases or limited cash-out refinances only.
- The bare land loan requires 30% down and is for purchases only.
- Jumbo mortgages are available and are 0.25% higher. Contact the Credit Union for details.
- Escrow may be required.
- Loans greater than 80% require PMI, except for the First Time Home Buyer Program.
- Proof of homeowner’s insurance required. Proof of flood insurance may be required.
- The 15/15 First Time Home Buyer Program allows for 100% financing of the purchase price/appraised value, whichever is lower. Single Family, Primary Residences Only. Other certain restrictions apply - Contact the Credit Union for more details.
- Contact the Credit Union about maximum LTVs based on unit and purpose.
- Mortgage loans are available in NYS only. Loan must meet credit, appraisal, and other guidelines. Title insurance is required.
- Rates are subject to change at any time. The Credit Union reserves the right to modify or suspend any conditions of the loan programs at any time without prior notice.
Adjustable-Rate Mortgage rate and payment changes:
The rate indicated for adjustable-rate mortgages is the initial rate and is subject to increase. Adjustable-Rate Loans may be amortized over 20, 25 or 30 years. Manufactured/Mobile with land is amortized over 15 or 20 years.
For example, the 5/1 ARM will have a constant interest rate for the first five years. Then the adjustable rate may change annually thereafter ("Change Date" as indicated in the Note) based on an "Index" which is the 1-Year Constant Maturity Treasury (1-Yr
CMT) adjusted to a constant maturity of 1 year as made available by the Federal Reserve Board. The most recent index available as of 45 days before each Change Date is called the "Current Index".
Before each Change Date, the Note Holder will calculate the new interest rate by adding the "Margin" to the "Current Index". The note holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). This rounded
amount will be the interest rate until the next "Change Date".
The rate may not adjust more than the Per Adjustment Cap indicated above on each "Change Date". The total loan adjustment will not adjust more than the Lifetime Cap indicated above over the lifetime of the loan.
The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that would be due in full on the maturity date at the new interest rate in substantially equal payments. The result of the calculation
will be the new amount of monthly payment.
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Rates effective as of: December 9, 2023
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