The low payments of a traditional adjustable-rate mortgage plus greater rate security.
The 5/5-Year Adjustable-Rate Mortgage (ARM) at Star One Credit Union—starting at 5.875%Rate (6.358%APR[1] ).
The 5/5 ARM combines lower initial payments with an extended period between rate and payment changes for greater rate security than traditional a ARM. This loan is best for homeowners that are willing to trade some risk of future interest rate increases for a lower start rate.
- Lock in today's interest rate for at least five years
- Lower start rate compared to fixed-rate options
- Period and lifetime caps limit future interest rates increases
- Get an extended five-year period for changes in rate and payment compared to the traditional one-year adjustment after the initial interest rate period
- No prepayment penalty
How the 5/5 ARM works
Your initial interest rate is guaranteed for the first five years. After that, the rate will adjust up or down every five years limited by a 2% period cap and 5% lifetime cap. The 5/5 ARM program is not available for investment properties.
Loan services
A tax document Star One sends to mortgage borrowers.
Mobile deposit, ezDeposit, automatic loan payment, online banking transfer, or pay from outside account
Why and how to provide Star One with proof of insurance