Introducing our 5/1 ARM

3.25% fixed rate for 5 years, then your rate can adjust annually. (4.46% APR*)

A 5/1 ARM is a great solution in today’s rising mortgage rate market.

With mortgage rates rising, F&A is now offering a real estate loan that can make purchasing or refinancing your dream home a reality – our new 5/1 Adjustable Rate Mortgage (or ARM).

Consider these payment examples on a $657,900 loan**:

Loan type:     5/1 ARM                    30 Year Fixed           Monthly Savings
Payment:      $2,863.22                  $3,431.92                   $568.70
                        First 5 years        

 

Our 5/1 ARM has a low fixed rate for the first five years, then your interest rate adjusts annually based on market conditions, with initial payments generally lower compared to most 30-year, fixed rate loans available today. After 5 years, you can either keep your adjustable rate mortgage or refinance it.  

To apply for a 5/1 ARM, please visit the F&A Mortgage Center or call us at 800-222-1226

*APR (Annual Percentage Rate) is based on maximum initial adjustment. **First mortgage loan rates may require an upward adjustment or additional fees may be charged based on credit score, loan to value, or loan type. APR is based on a $657,900.00 loan amount. Representative examples: 5/1 ARM - For a purchase loan of $822,375.00 minus a 20% down payment, 360 monthly payments of$2,863.22 each month with no points at 3.250% rate & 4.4587% APR. 30yr fixed - For a purchase loan of $822,375.00 minus a 20% down payment, 360 monthly payments of $3,431.92 each month with no points at 4.750% rate & 4.753% APR. Payment does not include amounts for taxes or insurance premiums. The actual payment amount will be greater. Loans are limited to owner-occupied & 2nd home single-family residences, condominiums, and townhomes.