Adjustable Rate Mortgages (ARM)

The Credit Union offers 5-Year Adjustable Rate Mortgage (ARM) products to purchase or refinance primary residences, second homes, and rental properties for members who reside in and for properties located in North Carolina, South Carolina, Virginia, Georgia and Tennessee unless further restricted as outlined below. The maximum loan amount depends on many factors including the purpose of the loan, the type of loan, and occupancy status. Funds are collected with each payment, in addition to your principal and interest payment, to allow for the disbursement of the estimated annual tax and insurance premiums that will be due. These funds are placed in an escrow account until the tax and insurance premium payments are due and earn dividends equal to the share account rate.

5-Year Adjustable Rate Mortgage

Because the interest rate may only be adjusted every five years, this product offers additional protection against rising rates1. The rate may not change by more than 2% every five years or 6% over the life of the loan.

80% or less loan-to-value 5-Year adjustable rate mortgage calculation form
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Current Interest Rate: %
Fully Indexed Interest Rate: %


80.1% - 90% loan-to-value 5-Year adjustable rate mortgage calculation form
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Current Interest Rate: %
Fully Indexed Interest Rate: %


90.1% - 100% loan-to-value 5-Year adjustable rate mortgage calculation form
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Current Interest Rate: %
Fully Indexed Interest Rate: %


100.1% - 110% loan-to-value 5-Year adjustable rate mortgage calculation form
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Current Interest Rate: %
Fully Indexed Interest Rate: %


Expand for additional information specific to this program and to calculate payment and APR2.

  • Maximum term of 30 years
  • Origination fee 0.75% of loan amount (cap of $1,500)
  • No application fees or credit report fees
  • Private mortgage insurance is not required
  • For purchases, maximum financing and loan-to-value financing tier determined based on the lesser of the sales price or appraised value. Member is responsible for appraisal costs.
  • 100.1% - 110% financing3,4 available for no cash-out refinances of single-family primary residences. Cash out is defined as any funds that exceed the balance owed on the first or second mortgages being paid off.
  • 90.1% - 100% financing5 available for purchases and no cash-out refinances of single-family primary residences. Cash out is defined as any funds that exceed the balance owed on the first or second mortgages being paid off.
  • Up to 90% financing available for purchases and refinances of primary residences
  • Up to 90% financing available for purchases and refinances of a second home.
  • Up to 80% financing available for the purchase of a rental property or for a no cash-out refinance of a rental property; further limited to 65% loan-to-value for cash-out refinances.
  • Each member may finance up to four properties with the Credit Union, but only one may be financed at greater than 90% LTV
  • Manufactured Homes can typically serve as collateral but must be the primary residence of the borrower (See Special Mortgage Programs for additional details)
  • Initial Rates subject to change daily
1 Future interest rate changes will be determined based on the five year Constant Maturity Treasury (CMT) yield
2 APR = Annual Percentage Rate. APR is your cost over the loan term expressed as a rate. Stated APR based on a loan amount of $150,000 for a 30-year loan term. Please use the calculator to calculate monthly payment and APR for different loan options.
3 The interest portion of the loan that is greater than the value of the dwelling is not tax deductible for Federal income tax purposes. Consult a tax advisor for further information regarding the deductibility of interest and charges.
4 100% - 110% financing up to maximum loan of $400,000
5 Greater than 90% loan-to-value limited to maximum financing of $400,000