Home Loan Center

Adjustable rate loans have interest rates that remain fixed for a set period of time and the lower interest rate affords you lower payments.

  • Adjustable Rate Loans up to $2 million
  • Annual Percentage Rate (APR) Based on Loan Amount of $453,100

5/1 ARM

We’re Giving You the Right ARM (Adjustable Rate Mortgage) for Your Home! Who doesn’t want a low monthly mortgage payment? Our 5/1 ARM loan may be the perfect solution for you! With an ARM, you’ll have one of the lowest fixed payments for the first 5 years. Thereafter, your rate and payment will adjust based on the LIBOR (London Interbank Offered Rate) market index rate.

So if the market rates go down, so does your rate! The 5/1-ARM would be perfect if the following applies within the next 5 years:

  • Plan to sell your home and move up to your dream home with lower payments
  • Refinance your current mortgage to reduce payments
  • First-time buyer – enjoy your first home without a huge mortgage payment shock
  • Upcoming Major expenses such as wedding, vacation, retirement, investment and college tuition

Call us at (866) 459-2345, Option 3 to apply!

*Adjustable-Rate Mortgage:The initial payment on a 30-year, $200,000 5-year Adjustable-Rate. The APR is 3.125%/3.546% APY. During the first 5-years, the principal and interest payment is $856.76. Rate for ARM is variable and may adjust after 5 years based on the LIBOR Market index Rate and the margin of 3.50%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rate is variable and subject to change after 5 years. Actual rate and terms will vary based on the borrower(s) credit qualifications. Rates and offer are subject to change without notice.

Want to remodel your home? Maybe add a room? Upgrade your furniture and appliances? Payoff high-rate credit cards? Whatever your purpose may be, our NO COST HELOC can help you save money! And when we say no-cost, it means that you won’t have to pay for appraisal, title, recording, credit report, and all those other fees! You may even have tax advantages when you use your home as a source to pay for special projects.

  • Draw period for 10 years
  • No annual fee
  • Maximum loan to value @ 80%
  • Maximum line of credit @ $ 100,000
  • 20 year amortization after the draw period
  • Floor rate as low as 6.50% APR (Maximum Ceiling Rate @ 15% APR)

*APR: Annual Percentage Rate. No-cost promotion on home equity loan is subject to change without notice. Early termination fee of $500 will apply if the line of credit is voluntarily closed within 36 months from the time of funding. After the 12-month introductory period, rate will be adjusted semi-annually based on the published Wall Street Journal Prime Index Rate, plus the margin ranging from 1.25% – 2.75%. As of 9/1/18, Prime Rate is 5.00% + margin as low as 1.25% = 6.25% APR. Payment example: $126.57 with $20,000 borrowed – interest and principal payment for 240 months. Schools Federal Credit Union does business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Additional restrictions may apply. Consult your tax advisor. Actual rate and terms will vary based on the borrower(s) credit qualifications. Rates and offer are subject to change without notice.

Call us at (866) 459-2345, Option 3 to review programs and rates.

All loans subject to credit approval. Actual rate on your loan request may vary based on your credit qualifications and loan characteristics. Rates and Products are subject to change at any time. Call our experienced, professional Home Mortgage Loan Officer at (866) 459-2345 ext 357, Monday-Friday 8:30 a.m. – 5:00 p.m. for additional information on LTV’s, rate buy-downs and specific loan options. Jumbo Fixed Rate Loans over $453,101 and up to $2 Million