Conforming ARM

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An Adjustable Rate Mortgage (ARM) typically offers lower rates than a fixed-rate mortgage. Your rate is locked for the first 3, 5, 7, or 10 years and then could adjust up (or down) based on the rate it’s tied to. It’s a great way to enjoy initial lower payments for borrowers who might plan on selling or refinancing before their fixed term ends.

Program Features:

  • Competitive rates
  • Purchase, rate and term refinance
  • Cash-out refinance1
  • Gift funds allowed for primary residence
  • 3/1, 5/1, 7/1, 10/1 ARM
  • Single-family residences, second homes, investment properties (1-unit)
  • Planned unit developments (PUD)
  • Condos (warrantable to FNMA guidelines)
  • Non-warrantable condos, with restrictions2
  • Acreage – up to 10 acres, not zoned rural or agricultural

1Cash-out refinance on primary residence and second home only. 2Maximum LTV is lesser of 80% or LTV as specified by loan program. Certain terms and restrictions apply. Program eligible in CO, NM, AZ, MI, TX, MO, KS, WA, CA (select areas/counties).