With a 5/5 Adjustable-Rate Mortgage (ARM) from First Financial, a competitive initial rate and five years of payment stability could help you make your next move.
- Start with a great 5-year fixed rate (up to 1.5% below traditional rates)
- Adjust only once every 5 years, giving you time to plan
- Rate increase limits = peace of mind
Finding a home you love is exciting. Figuring out the monthly payment? Not so much.
Our 5/5 adjustable-rate mortgage gives you a lower initial payment and more buying power than a traditional fixed rate mortgage. That could help you buy your first home, move up to a home with more room, or refinance your current home.
Cómo funciona
Your interest rate is fixed for the first five years of the 30-year term. After that, it can adjust once every five years, but no more than 2% per adjustment. This gives you time between potential changes to plan ahead. Keep in mind, if rates go up, your monthly payment could rise too. But, our built-in rate caps limit how much the rate can increase at each adjustment (up to 2%) and over the life of the loan (no more than 5% over your initial rate)*.
Put Us to Work for You
Our mortgage team can walk you through the starting payment, how future adjustments work, and the highest payment allowed under the loan terms, so you can decide whether a 5/5 ARM fits your budget today and in the years ahead.
Ready to explore your options?
Talk with a First Financial Mortgage Specialist
*Maximum first adjustment is 2%. Maximum subsequent adjustments 2%. Maximum lifetime increase will be no greater than 5% above the initial rate. FFCU will only finance or refinance mortgages for New Mexico properties in amounts up to $832,750. Only primary or secondary residences are eligible. Rental properties are not eligible for this loan.