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
By accessing this link, you will be leaving the credit union's website and entering a website hosted by another party.
Although we have approved this a a reliable partner site, please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of the credit union's website. The other party is solely responsible for the content of its website.
We encourage you to read and evaluate the privacy and security policies on the site you are entering, which may be different than those of the credit union.
Click ACCEPT to continue, or CANCEL to return to the page you were viewing.
