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Adjustable Rate Mortgages (ARM)

Boost your purchasing power with a home loan featuring a competitive rate, typically lower than fixed-rate options for the first five years.

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Be financially prepped for an ARM

Considering a 5-Year ARM? This type of mortgage comes with an interest rate subject to change every five years throughout the life of the loan. Common situations for choosing an ARM include:

In a high-interest rate market

Take advantage of paying a lower interest rate for the initial five-year period.

Short-term buys

If you plan to sell your home within five years, an ARM may be a great choice. 

Room in the budget

If interest rates increase, you can afford potential increases in your monthly payment in the future.

Features of SECU ARM Loans

Finding and applying for a mortgage loan is a life-changing financial decision. No matter what stage of life you’re in, SECU has loan options and mortgage specialists to help you navigate it all.

  • Capped rate changes

    The interest rate can only be adjusted every five years with a maximum term of 30 years.1 The rate cap is 2% every five years or 6% over your initial interest rate during the life of the loan.

  • No private mortgage insurance (PMI) needed

    PMI is not required for SECU ARM Loans.

  • Low fees

    Our loans do not require application or credit report fees.2

  • Lending footprint

    Purchase or refinance primary residences, second homes, and investment properties in North Carolina, South Carolina, Virginia, Georgia, and Tennessee.3,4,5

  • Tax and insurance included

    Your monthly payment includes principal, interest, and an estimated amount to cover annual property taxes and applicable insurance premiums.

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Compare rates and payments

Use our rates calculator to compare mortgage options and receive a personalized monthly payment estimate.

Check today’s rates

Get pre-qualified for a mortgage

SECU offers no-cost, no-obligation pre-qualifications to members online, over the phone, or by visiting their local branch.

To receive a pre-qualification letter, SECU members must consent to a credit check and provide details on income, debt, assets, and residential and employment history. Once the application for pre-qualification is completed, a pre-qualification letter is typically generated within one business day.

Get pre-qualified
Getting pre-qualified can help you:

  • Understand the home loan amount you can afford.

  • Shop with confidence knowing what range you can afford.

  • Demonstrate your creditworthiness in your offer.

  • Reduce timelines and potentially close on your dream home faster.

Frequently asked questions about Adjustable Rate Mortgages

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  1. Future interest rate changes will be determined based on the five-year Constant Maturity Treasury (CMT) yield.
  2. Origination fees (what SECU charges for processing the mortgage loan) are assessed for 1% of the loan amount, capped at $2,500.
  3. Manufactured homes can typically serve as collateral but must be the primary residence of the borrower. Terms are limited to a maximum of 20 years.
  4. For purchases, maximum financing and loan-to-value financing tier are determined based on the lesser of the sales price or appraised value of the property securing the loan. Member is responsible for appraisal costs.
  5. Up to 100% financing available for purchases and no cash-out refinances of single-family primary residences. Up to 90% financing available for cash-out refinances of primary residences. Cash-out is defined as any funds that exceed the balance owed on the first mortgage being paid off, plus closing costs. Greater than 90% financing is relegated to a maximum loan of $500,000. Additional restrictions may apply. Up to 90% financing for purchases and no cash-out refinances of secondary residences; further limited to 75% loan-to-value for cash-out refinances. Up to 85% financing available for the purchase of a one-unit investment property or a no cash-out refinance of a one-unit investment property; further limited to 75% loan-to-value for cash-out refinances. Up to 75% financing available for the purchase of a two- to four-unit investment property or a no cash-out refinance of a two- to four-unit investment property; further limited to 70% loan-to-value for cash-out refinances. Each member may finance up to six properties with SECU, but only one may be financed at greater than 90% LTV.