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Somerset Federal Credit Union

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Adjustable-Rate Mortgage

If you are planning to move, downsize or upgrade in the near future, take advantage of this mortgage option ideal for short term goals. An Adjustable-Rate Mortgage (ARM) allows you to lock in a generally lower rate for an initial fixed term. At the end of the term, the rate then adjusts as market conditions change.

Features:

  • Lower rate than a fixed mortgage
  • No points or hidden fees
  • Up to 30 years to repay
  • All servicing done by the Credit Union
  • Rate-lock available at application for up to 45 days

Upon approval you will need to open an account with the Credit Union and maintain a $5 minimum balance in the account for the life of the loan.

Rates/Terms are subject to change without notice.