Adjustable Rate Mortgages

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Get your foot in the door with years of lower rates

Down payments. Closing costs. Moving expenses. Buying a home sure can strain your finances. Or maybe you need to refinance your mortgage for one reason or another. One way to save is with an adjustable-rate mortgage. An ARM features a initial rate for a set of number of years, before becoming variable. That keeps a lid on your monthly payments and leaves you with more money to restock your savings - or remodel your new place.
  • Ideal for purchases or refinances, especially if you're a first-time homebuyer or your credit score is less than desirable
  • KEMBA Financial Credit Union features ARMs that come with lower, fixed rates for 3, 5 or 7 years
  • After that time period, rates are adjusted periodically depending on market conditions
  • Loan caps limit how much rates can rise in any one year or over the life of the loan
  • ARMs can be a good move if your household income is likely to rise in future years or if you plan to move again before the initial term ends
  • In certain cases, ARMs are available for refinancing existing mortgage loans as well
  • Re-lock your rate during your initial term with KEMBA's exclusive benefit

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