An adjustable rate mortgage (ARM) has a monthly payment that may change over the term of the loan. With our 10/1 adjustable rate mortgage, your payment won’t change for the first ten years of the loan and then can change each year based on market conditions, subject to the specific terms of the loan.
The greatest benefit of 10 year jumbo ARM and 7 year jumbo ARM loans is the lower introductory rate that they typically offer versus that of long term fixed rate products. And since many people do not stay in the same house for more than seven years, these programs can be a perfect solution.
ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10 years for a 10/1 ARM). Select the About ARM rates link for important information, including estimated payments and rate adjustments.
Depending upon current market conditions, 7/1 and 10/1 jumbo ARM products can be a happy median between the lower rates and higher volatility of shorter term ARM products and the higher rates and raised stability of fixed rate mortgage products.
Adjustable-rate mortgage with low fixed rates for 3 years, 5 years or 10 years from Silicon Valley’s largest credit union. For banking by telephone, or to speak to a Star One phone representative for assistance with this website, please call us at 866-543-5202 or 408-543-5202.
Mortgage Rates. All estimates below are based on a loan amount of $200,000. If you are interested in our Jumbo Mortgage Products & Rates (for loan amounts over $484,350), please do not hesitate to contact Marc Sanguinetti at firstname.lastname@example.org (NMLS# 408584).
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1 APR & Payment Examples – The APR and monthly payment examples assume a 20% down payment, 360 total monthly payments (240 for 20 Year Fixed, 180 for 15 year fixed, and 120 for 10 Year Fixed), and 09.00 estimated borrower pre-paid finance charges. If the down payment is less than 20%, mortgage insurance may be required on the loan and could result in an increased APR and payment.