Our lowest ARM rates.

Calculate your monthly payment using these rates. (Rates are based on some standard assumptions as described below.)

ARM loan payments may increase after loan consummation.

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What's an adjustable-rate mortgage?

An adjustable-rate mortgage (ARM) is a 30-year home loan with an initial fixed-rate period, typically 3 to 10 years. The interest rate may change on an annual basis once the fixed portion of the loan expires. For example, with a 5/1 ARM loan, your interest rate would be fixed for 5 years, and could fluctuate up or down each subsequent year for the next 25 years.

ARM loans typically feature lower rates and monthly payments than comparable fixed-rate loans during the initial rate period, but rates could increase once the initial rate expires. While many home buyers prefer the security of a fixed-rate mortgage, an ARM can be a good choice, too - especially if you know you'll be moving within the next few years.

3- and 5-Year ARMs

3/1 ARMs and 5/1 ARMs generally provide the lowest interest rates and monthly payments during the initial rate period - ideal for those who don't want a long-term mortgage.

10-Year ARMs

10-Year ARMs are an increasingly popular option because they combine significant savings for the initial rate period with longer protection from market-based interest-rate fluctuations.

Benefits and Considerations

The Best Short-Term Rates

Conventional ARMs typically feature lower interest rates and APRs during the initial rate period.

Low Monthly Payments

An ARM mortgage lets you keep your monthly payments low during the initial term of your home loan, which gives you the option to pay down your mortgage faster.

Refinancing Options

Conventional ARMs are available for refinancing your existing mortgage, too.

Requirements and Qualifications

  • Credit history - Conforming loans (loans that conform to Fannie Mae and Freddie Mac guidelines) are a good choice for borrowers with excellent credit, which generally means a FICO score of 740 or higher. There are also established guidelines for income and other personal financial information.
  • Loan Amount - The loan amount for a conforming ARM is generally limited to $424,100 for a single-family home, though limits may be higher in regions where home prices are higher. Jumbo ARMs allow you to exceed the conforming loan limit to borrow for a higher-priced home.
  • Down Payment - Most conventional ARMs will require at least 5 percent (and optimally 20 percent or more) as a down payment. For loans with lower down-payment requirements, explore government-backed mortgages like VA loans and FHA loans.

If you understand the risk of rate fluctuation after the initial rate period, an ARM can be a good option. Compare mortgage options to learn more on your own, or contact a mortgage loan originator to find out which mortgage option may be the best fit for you.

Loan payment example: On a $150,000 loan for 360 months at 3.75% interest rate for the first 10 years on an Adjustable Rate Mortgage loan, monthly payments would be $694.67. No customer paid closing costs, APR is 3.410%. Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment and your Annual Percentage Rate (APR). This payment example does not include amounts for taxes and insurance premiums. The monthly payment obligation will be greater if taxes and insurance are included and an initial customer deposit may be required if an escrow account for these items is established.

Find out how much you may be able to spend on your next home.


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