Adjustable Rate Mortgages & Rates | BCCU

DOWN
Bellwether Community Credit Union Go to main content
Login/
enroll


ADJUSTABLE RATE MORTGAGES

Bellwether's Adjustable Rate Mortgages (ARM's) are home loans that are not fixed for the entire term of the loan. In general, ARM interest rates for the initial period of the loan are usually lower than fixed rate mortgages. Most ARM loans have an initial period where the rate is fixed, but the rate can change after that fixed period. These loans involve more risk than fixed rate mortgages but they can also save you money. Our New Hampshire loan officers are happy to discuss the features and benefits of an ARM with you, to help you determine if an ARM is right for your situation. We have also recently expanded our membership to include anyone living or working in Essex or Middlesex Counties in Massachusetts.
 


 

Adjustable Rate Mortgages (ARMs)*
Effective Date: Wednesday, October 5th, 2022
Get Quotes Apply Now
Payment examples shown below do not include taxes or insurance. Your payment may be greater.
Account TypeRateAnnual Percentage Rate (APR) As Low As*
1/1 ARM CMT 4.990% 3.121% APR
3/1 ARM CMT 5.125% 3.472% APR
Seasonal Home 5/1 ARM CMT 6.375% 4.6760% APR
5/1 ARM CMT 5.625% 3.995% APR
5/5 ARM CMT 5.375% 3.963% APR
Easy Start 5/5 ARM CMT 5.250% 3.930% APR
7/1 ARM CMT 6.625% 4.816% APR
10/1 ARM CMT 6.750% 5.500% APR
Construction 5/1 ARM 5.625% 5.995% APR

 

Loan approval, interest rate, and down payment required based on creditworthiness amount financed, and ability to repay. Loans with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate. Escrow for Real Estate taxes may be required which would increase your monthly mortgage payment. Property Insurance is required and flood insurance may be required. Other fees may be assessed, as applicable.

The index for all Adjustable Rate Mortgages is the weekly average of the U.S. Treasury securities for the applicable term. The interest rate on the ARMs will adjust periodically and that may result in an increase of the interest rate after closing. Rates, terms, and conditions are subject to change.

The 1/1 ARM offers a fixed rate for 1 year and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 2.75 percentage points. Caps are 2% initial, 2% annual and 6% for the lifetime cap.

The 3/1 ARM offers a fixed rate for 3 years and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 2.75 percentage points. Caps are 2% initial, 2% annual and 6% for the lifetime cap.

The Seasonal Home 5/1 ARM offers a fixed rate for 5 years and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 3.50 percentage points. Caps are 2% initial, 2% annual and 6% for the lifetime cap.

The 5/1 ARM offers a fixed rate for 5 years and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 2.75 percentage points. Caps are 2% initial, 2% annual and 6% for the lifetime cap.

The 5/5 ARM offers a fixed rate for 5 years and adjusts to a 5-year ARM after that period. The interest rate and monthly payment may adjust every 5 years based on the 5-year U.S. Treasury, plus a margin of 2.50 percentage points. Caps are 2% initial, 2% annual and 5% for the lifetime cap.

The Easy Start 5/5 ARM offers a fixed rate for 5 years and adjusts to a 5-year ARM after that period. The interest rate and monthly payment may adjust every 5 years based on the 5-year U.S. Treasury, plus a margin of 2.50 percentage points. Caps are 2% initial, 2% annual and 5% for the lifetime cap.

The 7/1 ARM offers a fixed rate for 7 years and adjusts to a 1- year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1 year U.S. Treasury, plus a margin of 2.75 percentage points. Caps are 5% initial, 2% annual and 5% for the lifetime cap.

The 10/1 ARM offers a fixed rate for 10 years and adjusts to a 1- year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1 year U.S. Treasury, plus a margin of 2.75 percentage points. Caps are 5% initial, 2% annual and 5% for the lifetime cap.

For 1 - 4 family owner-occupied residence, condo and one-unit second homes.

 

 

Caps
1/1, 3/1, Seasonal Home and 5/1 ARM CMT = 2/2/6
7/1 and 10/1 ARM CMT = 5/2/5
5/5 ARM CMT = 2/2/5

Index and Margin
Index: One Year US Treasury Bill. As of 9/30/2022: 4.07, Margin: 2.75%, Your rate will be rounded up to the nearest eighth. This applies to the 1/1, 3/1, 5/1, 7/1, and 10/1 products.
Index: One Year US Treasury Bill. As of 9/30/2022: 4.83, Margin: 3.5%, Your rate will be rounded up to the nearest eighth. This applies to the Seasonal Home.
Index: Five Year US Treasury Bill. As of 9/30/2022: 4.06, Margin: 2.50%, Your rate will be rounded up to the nearest eighth. This applies to the 5/5 and Easy Start products.


 

Go to main navigation