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Adjustable Rate Mortgages

Adjustable Rate Mortgages

Low starting rates and payments make ARMs a great way into home ownership.

At a Glance

Whether you’re a first-time homebuyer looking to purchase your dream house, or you’re simply refinancing, DCU’s ARMs provide a range of options as well as lower starting rates than fixed-rate mortgages.

Features / Benefits

Lower payments and starting rates - Depending on the option you choose, your rate is locked for the first 5, 7, or 10 years and can change periodically after that.
30-year terms – Keep your payments manageable with no prepayment penalties.
Borrow for 1 to 4 family primary residences
60-day rate lock – Don’t lose out on that low rate as you go through the mortgage process!
DCU service for the life of the mortgage – Never worry about having to make a payment to a different lender.
As Low As
4.13% APR
RATING
4 4 / 5 stars

TERM

5/1 ARM 30-year term

Adjustable Rate Mortgage Rates

The following Adjustable Rate Mortgage rates are for loans up to $484,350 (also known as “conforming mortgages").

Terms Terms Months Months Points Points Interest Rate Interest Rate APR¹ APR¹ Initial/Annual/Life³ Initial/Annual/Life³ Margin/Index Margin/Index EMP² per $1,000 EMP² per $1,000
5/1 ARM First 60 / Next 300 0 3.000% / 4.625% 4.13% / 4.63% 2% / 2% / 5% 2.750% / 1.880% $4.22 / $5.01
5/5 ARM First 60 / Next 300 0 3.250% / 4.375% 4.06% / 4.41% 2% / 2% / 5% 2.750% / 1.660% $4.35 / $4.90
7/1 ARM First 84 / Next 276 0 3.125% / 4.625% 4.01% / 4.63% 5% / 2% / 5% 2.750% / 1.880% $4.28 / $4.96
10/1 ARM First 120 / Next 240 0 3.250% / 4.625% 3.87% / 4.63% 5% / 2% / 5% 2.750% / 1.880% $4.35 / $4.91
Terms Terms Months Months Points Points Interest Rate Interest Rate APR¹ APR¹ Initial/Annual/Life³ Initial/Annual/Life³ Margin/Index Margin/Index EMP² per $1,000 EMP² per $1,000
5/1 ARM First 60 / Next 300 0 3.000% / 4.625% 4.13% / 4.63% 2% / 2% / 5% 2.750% / 1.880% $4.22 / $5.01
5/5 ARM First 60 / Next 300 0 3.250% / 4.375% 4.06% / 4.41% 2% / 2% / 5% 2.750% / 1.660% $4.35 / $4.90
7/1 ARM First 84 / Next 276 0 3.125% / 4.625% 4.01% / 4.63% 5% / 2% / 5% 2.750% / 1.880% $4.28 / $4.96
10/1 ARM First 120 / Next 240 0 3.250% / 4.625% 3.87% / 4.63% 5% / 2% / 5% 2.750% / 1.880% $4.35 / $4.91

Rates are effective {currentdate}.

¹APR = Annual Percentage Rates are variable and may increase after consummationAll rates shown are based upon a 30-year term, owner occupied, and up to 60% of home value. Rates and Fees disclosed are for loans that meet Secondary Mortgage Market underwriting standards; additional rate and fees may apply for loans outside of those guidelines. Rates locked in today for 60 days have an expiration date of October 6, 2019. 

²Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher. The stated amount per $1,000 is based on the fixed rate period and the payment will likely increase after that period of time.

³Rate Change Caps – This is the maximum amount interest rates on Adjustable Rate Loans can change up or down. The first number is the amount they can change up or down on the first adjustment date. The second number is the amount they can change each subsequent year on the anniversary date. The third number is the maximum total change, up or down, over the life of the loan. Since the index in the future is unknown, the first adjustment payments displayed are based on the current index plus the margin (fully indexed rate) as of the effective date above.

Jumbo Adjustable Rate Mortgage Rates

The following Adjustable Rate Mortgage rates are for loans over $484,350 (also known as “jumbo mortgage”).

Terms Terms Months Months Points Points Interest Rate Interest Rate APR¹ APR¹ Initial/Annual/Life³ Initial/Annual/Life³ Margin/Index Margin/Index EMP² per $1,000 EMP² per $1,000
Jumbo 5/1 ARM First 60 / Next 300 0 3.000% / 4.750% 4.13% / 4.76% 2% / 2% / 5% 2.875% / 1.880% $4.22 / $5.07
Jumbo 5/5 ARM First 60 / Next 300 0 3.250% / 4.500% 4.06% / 4.54% 2% / 2% / 5% 2.875% / 1.660% $4.35 / $4.96
Jumbo 7/1 ARM First 84 / Next 276 0 3.125% / 4.750% 3.99% / 4.76% 5% / 2% / 5% 2.875% / 1.880% $4.28 / $5.02
Jumbo 10/1 ARM First 120 / Next 240 0 3.250% / 4.750% 3.84% / 4.76% 5% / 2% / 5% 2.875% / 1.880% $4.35 / $4.96
Terms Terms Months Months Points Points Interest Rate Interest Rate APR¹ APR¹ Initial/Annual/Life³ Initial/Annual/Life³ Margin/Index Margin/Index EMP² per $1,000 EMP² per $1,000
Jumbo 5/1 ARM First 60 / Next 300 0 3.000% / 4.750% 4.13% / 4.76% 2% / 2% / 5% 2.875% / 1.880% $4.22 / $5.07
Jumbo 5/5 ARM First 60 / Next 300 0 3.250% / 4.500% 4.06% / 4.54% 2% / 2% / 5% 2.875% / 1.660% $4.35 / $4.96
Jumbo 7/1 ARM First 84 / Next 276 0 3.125% / 4.750% 3.99% / 4.76% 5% / 2% / 5% 2.875% / 1.880% $4.28 / $5.02
Jumbo 10/1 ARM First 120 / Next 240 0 3.250% / 4.750% 3.84% / 4.76% 5% / 2% / 5% 2.875% / 1.880% $4.35 / $4.96

Rates are effective {currentdate}

¹APR = Annual Percentage Rates are variable and may increase after consummationAll rates shown are based upon a 30-year term, owner occupied, and up to 60% of home value. Rates and Fees disclosed are for loans that meet Secondary Mortgage Market underwriting standards; additional rate and fees may apply for loans outside of those guidelines. Further restrictions apply for loan amounts over $484,350 such as credit score, Loan to Value, etc.

Rates locked in today for 60 days have an expiration date of October 6, 2019.

²Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher. The stated amount per $1,000 is based on the fixed rate period and the payment will likely increase after that period of time.

³Rate Change Caps – This is the maximum amount interest rates on Adjustable Rate Loans can change up or down. The first number is the amount they can change up or down on the first adjustment date. The second number is the amount they can change each subsequent year on the anniversary date. The third number is the maximum total change, up or down, over the life of the loan. Since the index in the future is unknown, the first adjustment payments displayed are based on the current index plus the margin (fully indexed rate) as of the effective date above.

Fees & Closing Costs

Mortgage Application Fee Rate Lock Fee Approximate Closing Cost¹
$300 Free not including points
$1,900 - $2,000
(per $100,000)²

1 - Private Mortgage Insurance is also required if the loan to value is greater than 80%. The "Loan to Value" is the total loan amount divided by the value of your property. The value of the property is the lesser of either the purchase price or appraised value. Secondary Market Delivery Fees may be applicable in addition to the Approximate Closing Costs.

2 - Depends upon the state you are purchasing your home in. Fees may increase based on credit score, down payment, purpose of loan, subordinate financing and property type. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.

Plan for Your Mortgage

Choose from our easy to use calculators to help you manage or plan for your mortgage or home equity loan.

What Our Members Are Saying

Just what we needed

RATINGS 5 5 / 5 stars

The fact that DCU has the option to have a 90% LTV Home Equity Loan product game changer, and was the main deciding factor on choosing DCU. The service by all parties involved was fantastic. Highly recommend!

Michael – East Taunton, MA

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Amazing service

RATINGS 5 5 / 5 stars

So easy to apply. Questions were answered quickly and in their entirety. Every step was explained. We closed early. We would definitely recommend DCU to anyone!

Pinepup – Phoenix, AZ

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Great loan process & best rates

RATINGS 5 5 / 5 stars

DCU was a standout among all other lenders. The loan process was easy and fast, and they had the best rate by far. They also provided great support and were responsive throughout the process.

Chris – Louisville, KY

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