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Adjustable Rate Mortgage (ARM)

ARMs allow you to start with a lower rate than fixed-rate loans, but the rate can adjust up or down periodically. OCCU offers a 5-year fixed period and a 7-year fixed period.

An ARM may be right for you if:

  • You want more cash flow management options
  • You are planning to stay in the home for a short period of time
  • You expect your earnings to increase
  • You anticipate that interest rates will drop
  • You are confident you can handle higher payments if the rate increases

5 and 7-year ARMs

  • Maximum of 2% initial rate change after the introductory term
  • Maximum of 2% rate change per year
  • Maximum of 6% total rate change over the life of the loan


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QUESTIONS? Call 918-664-6000, ext 386 or email RealEstate@OklahomaCentral.org.

 

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