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Current Mortgage Rates:
5-Year ARM 2.875%
Future Adjustments

Adjustable Rate Mortgage Future Adjustments

With an adjustable-rate mortgage (ARM), your loan will have an initial fixed-rate period. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of reset.

Adjustable Rate Mortgage (ARM) Info
Lifetime rate cap 5%
Yearly adjustment cap 2%
First year rate cap 2%
ARM index 1.232%
ARM margin 2.25%

Adjustable-Rate Mortgage: The initial payment on a 30-year $200,000 5-year Adjustable-Rate Loan at 2.875% and 75% loan-to-value (LTV) is $829.79 with 2.00 points due at closing. The Annual Percentage Rate (APR) is 3.52%. After the initial 5 years, the principal and interest payment is $888.13. The fully indexed rate of 3.50% is in effect for the remaining 25 years and can change once every year for the remaining life of the loan. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rate is variable and subject to change after 5 years.

(3.52% APR)
30-Year Fixed 3.625% (3.862% APR)
15-Year Fixed 2.75% (3.199% APR)
VA 30-Year Fixed 3.25% (3.453% APR)
VA 5/1 ARM (1/1/5) 2.75%
Future Adjustments

Adjustable Rate Mortgage Future Adjustments

With an adjustable-rate mortgage (ARM), your loan will have an initial fixed-rate period. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of reset.

Adjustable Rate Mortgage (ARM) Info
Lifetime rate cap 5%
Yearly adjustment cap 1%
First year rate cap 1%
ARM index 0.58%
ARM margin 2%

VA Adjustable-Rate Mortgage: The payment on a 30-year $200,000 5-year VA Adjustable-Rate Loan at 2.75% and 75% loan-to-value (LTV) is $816.49 with 1.125 points due at closing. After 5 years, the principal and interest is $805.21. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. VA loans do not require PMI. The Annual Percentage Rate (APR) is 2.853%. Rate is variable and may increase after fixed rate period.

(2.853% APR)
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Rates last updated: 06:27AM (EDT) on 5/5/2016
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