Adjustable Rate Mortgages

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Fit your mortgage to your budget and lifestyle

 

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Due to the Coronavirus (COVID-19) outbreak, we are experiencing higher than normal volume. There may be delays in responding to and processing your application. Thank you for your patience.

Looking to finance your dream home? Webster First can help. Our Adjustable Rate Mortgages offer you flexible options that work for your budget and lifestyle.

 

 

Program details

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  • We offer low rates and flexible payment options that work best for you
    • 1 year ARM and 3 year ARM
    • 1 year ARM with option to convert to fixed
    • 7 & 1 (7 years fixed, 1 year adjustable)
    • 7 & 3 (7 years fixed, 3 years adjustable)
    • 5 & 1 (5 years fixed, 1 year adjustable)
    • 10 & 5 (10 years fixed, 5 years adjustable)
  • 30 year maximum term available for conventional mortgages, construction loans, and mobile homes
  • 40 year mortgage (7 years fixed, 1 adjustable)
  • 10 year maximum term for land loans
  • Some packages may include points and/or down payment may be required

 

 

 

Current rates

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Rates subject to change without prior notice. Rates current as of July 10, 2020.

 

Type

Rate

APR*

Monthly PMT (per $1,000)

Points

5 & 1 Fixed Variable

2.875%

2.922%

$4.15

0

7 & 1 Fixed Variable

3.000%

3.047%

$4.22

0

7 & 3 Fixed Variable

3.250%

3.366%

$4.35

0

10 & 5 Fixed Variable

3.375%

3.425%

$4.42

0

Convertible

2.625%

2.670%

$4.02

0

1 Year Adjustable Rate Mortgage

2.625%

2.670%

$4.02

0

3 Year Adjustable Rate Mortgage

2.750%

2.992%

$4.08

0

40 Year Mortgage

3.000%

3.038%

$3.58

0

 

 

 

 

Apply for an Adjustable Rate Mortgage

 

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Program subject to change without prior notice.

*APR = Annual Percentage Rate

All mortgage annual percentage rates (APR) are for 1-4 unit owner occupied primary residences, based on 20% down payment. APR's may vary with lesser down payment. All mortgages with a loan to value of 80% and over require Private Mortgage Insurance (PMI). Rates subject to change without any prior notice. Please call for detailed guidelines.

Subject to credit union underwriting approval. Taxes and insurance are not included in the payment examples.