Maximize your buying power with a 5/1 ARM

Enjoy lower monthly payments for the first 5 years with our popular 5/1 Adjustable-Rate Mortgage*. Secure a stable rate now, and gain flexibility for your future.

Reasons to consider an Adjustable Rate Mortgage

Initial Savings: Benefit from a lower interest rate compared to traditional fixed-rate loans.
Payment Predictability: Enjoy 5 years of consistent monthly payments.
Financial Flexibility: Ideal for those planning to move or refinance within a few years.
Potential for Future Savings: If rates decline, your payments could decrease.

The 5/1 ARM offers a smart balance of stability and savings. It's the perfect option for homebuyers looking to maximize their budget and plan for their financial future.

More Reasons to consider an SCU ARM

Terms up to 30 years - Can help lower your monthly payment
We offer the same rates for Jumbo and Convential ARMs - You could save money if you anticipate spending more than $806,500 for a single family house.
Rate caps - 2% adjustment and 6% lifetime cap for 5/1 ARM - This means your rate can't go up more than 2% annually and 6% over the life of the loan
Low initial interest rates - Reduces initial monthly mortgage payment
No pre-payment penalties

5/1 Adjustable Rate Mortgage
Effective Date: February 20, 2025
Term	Rate	Points	APR*	Payment per $1,000
5/1 Year (30 Years)	5.50%	0	6.449%	$5.68
Initial 60 payments of $567.79 at a rate of 5.500%. Then, based on the current index, 299 payments of $653.49 at a rate of 7.000% and 1 payment of $654.68 at a rate of 7.000%.
APR = Annual Percentage Rate. Rates subject to change at any time.

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How Can ARMs Help First Time Home Buyers?

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Understanding ARMs

Membership in SCU Credit Union is open to people residing or employed in the counties of Norfolk, Suffolk, Middlesex, Plymouth, Barnstable or Bristol of the Commonwealth of Massachusetts and Providence, Bristol and Newport counties of the State of Rhode Island. Additionally, family members of eligible persons may apply for membership regardless of location. A family member shall include a spouse, son, daughter, mother, father, sister, brother, aunt, uncle, cousin, grandparent, or grandchild.

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Joining is simple!

Why join SCU Credit Union? Because membership is more than being just a customer. You are part-owner of a financial cooperative that strengthens and builds the communities around you. Keeping your money in a community credit union helps your neighbors and local businesses reach their financial goals and prosper. To become a member, all you need is a $5.00 Savings Account. You can open your account online or stop by a branch near you.

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*APR= Annual Percentage Rate. Adjustable Rate Mortgage (ARM) and their APRs are subject to increase after consummation. The APR is effective 12/26/2024 and is based on a $100,000 loan with 20% down payment and no points on a 30-year term. Interest rate and monthly payments are fixed for the initial term and then adjust thereafter by a margin over the index. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater. The Index for the 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1 ARM is the average weekly yield for 1-Year Constant Maturity Treasuries with a Margin of 2.75%, a 2% adjustment cap and a 6% lifetime cap.

Maximize your buying power with a 5/1 ARM

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