A PNCU 7/1 Adjustable Rate Mortgage (ARM) offers a fixed interest rate for the first 7 years of the loan and will adjust every year thereafter.
7/1 Adjustable Rate Mortgage
What are the advantages of a 7/1 ARM?
- Lower payments during the fixed-rate period: An ARM loan may offer potential savings during the initial fixed-rate period compared to a standard fixed-rate loan. With a 7/1 ARM, your introductory period is locked in for 7 years before any adjustments are made. This period gives you 7 years of predictable payments at a low interest rate.
- Flexibility: If you think your life may change in the next few years, an ARM loan can be a great idea and a way to save money.
- Invest: It can help borrowers save and invest more money. Someone who has a payment that is less with an ARM can put that savings in a higher-yielding investment.
View Our Rates
| Program | Maximum Term | Interest Rate* | APR* | Fully Indexed Rate | Monthly Payment per $1,000** |
|---|---|---|---|---|---|
| 5/1 ARM | 30 Years | 5.625% | 6.659% | 7.125% | $5.76 |
| 10/1 ARM | 30 Years | 6.125% | 6.609% | 7.125% | $6.07 |
**Payments do not include real estate taxes or insurance. Your payment obligation may be greater.
You must become a member of the Polish National Credit Union if you are granted a loan and must remain a member for the life of the loan. Membership is attained by opening a deposit account and is open to individuals who live, work, worship or attend school in Hampden, Hampshire, Berkshire and Franklin counties in Massachusetts and Hartford, Litchfield and Tolland counties in Connecticut. Please contact a mortgage loan originator for more information.
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For more information about accounts and services, visit a credit union branch in Western MA near you, use our Contact Form, or call us at (413) 592-9495.