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Adjustable Rate Mortgages1

Adjustable rate mortgages are a flexible option for homeowners who want to save money in the short term, or who plan to move or refinance within a few years. Our adjustable rate mortgage offerings include a variety of initial fixed-rate periods.

  • At the start of your loan term the interest rate is usually lower than the rate you would receive for a fixed rate loan, so you save on monthly payments.
  • Plus, your initial rate is fixed for a specified period of time at the beginning of the loan term. So if you have shorter time horizons for owning your home, an adjustable mortgage is frequently your most economical choice.
  • After the fixed rate period, your interest rate will start to adjust at periodic intervals, and it could change frequently over the life of the loan, which could significantly impact your monthly principal and interest payment -- either positively or negatively. But remember, if prevailing rates begin to rise, you can consider refinancing to a fixed mortgage at any time.


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1 All loans subject to approval.