At Space Coast Credit Union, we offer a range of ARM loans to suit our members' needs, including alternatives that offer adjustment after one, three, five or seven years5. For reference, an ARM loan with 5/1 term options and a one-year constant maturity treasury index has a fixed payment and interest rate for the first five years of the loan. After the initial five-year period is up, both the payment and interest rate may adjust every 12 months. The interest rate can't increase more than 5 percent over the life of the loan and can't increase or decrease more than 2 percent at once.
To learn more about all of your mortgage options with SCCU, including adjustable rate mortgages, please contact us
to speak with our Express Sales team.