Our unique 5/5 ARM allows you to get a bigger house and saves you more in 5 years than a 30-year fixed loan!
Comparison: First 5 Years (1)
30 Year Fixed-Rate Mortgage
Signal Financial’s 5/5 ARM (2)
|Initial Rate (3)||4.375%0||3.25%|
|Monthly Payment (4)||$2,870.89||$2,828.64|
|Total Payments over 5 Years (5)||$172,253.41||$169,730.46|
|Savings After 5 Years||$2,014.60|
5/5 Adjustable-Rate Mortgage (ARM)
Most adjustable-rate mortgages are great during the initial fixed-rate period, but then the rate can rise substantially and can change once every year for the rest of the loan term. With our new 5/5 ARM, your rate is locked for five-year intervals and can increase by no more than one percent at each adjustment. That means your rate will likely remain below a comparable 30-year fixed-rate for at least the first 10 years of your loan.
Getting prequalified will help you know from the start how much you can afford and can help speed up the buying process, so you don’t lose out on the home you want while waiting for financing approval. Get started by speaking with one of our mortgage loan officers. Call 301-933-9100, ext. 124 today!
1Figures are shown for comparison purposes only; actual rates, payments, and terms may vary and depend upon credit worthiness and other factors. Not all applicants will qualify for the lowest rate.
2As of March 01, 2018, Signal Financial FCU’s 5/5 Adjustable Rate Mortgage (ARM) rate is 3.25% (3.305% APR). Rate for the 5/5 ARM is variable and can increase by no more than 1 percentage point after the initial five year period and at each subsequent annual rate adjustment, with a lifetime maximum adjustment of 5% (8.25% for this example). Since the value of the index in the future is unknown, the First Adjustment Payments displayed are based on the current index plus margin (fully indexed rate) as of March 1, 2018.
3APR=Annual Percentage Rate. Rates are effective March 1, 2018 and are subject to change at any time, and may increase. Rates locked in today for 60 days have an expiration date of (today+ 60 days).
4Payments shown do not include taxes or insurance. Actual payments may be greater. Examples based on $575,000 and $650,000 loans. Other restrictions apply. Total payments and savings shown are for comparison and example purposes only; actual amounts may vary depending upon specific loan terms and conditions.