Adjustable Rate Mortgages (ARMs)
UNFCU offers Adjustable Rate Mortgages (ARMs) for the financing of primary residences and second homes. With an ARM, the rate is subject to adjustment after the initial fixed period.
For example, if you choose a 7/1 ARM, your interest rate will be fixed for the first seven years of your mortgage and will be subject to change annually after the initial period.
UNFCU applies adjustment caps, including a lifetime cap, to limit the amount by which the rate can vary.
Fixed Rate Mortgages
For members who would prefer to lock in their rate for the life of the mortgage, we offer fixed rate mortgages. Choose from 10 to 30 year fixed rate mortgages when purchasing a primary residence, and from 10 to 15 years for the purchase of a second home.
If you are purchasing an investment property, please contact a UNFCU
mortgage representative to discuss your financing options.