Adjustable Rate Mortgage

New Home, new low rate.

7/1 Adjustable Rate Mortgage

Adjustable Rate Mortgage Options

Adjustable Rate

If you are looking for a lower initial payment and are less concerned about your payment increasing in future years, take a look at our adjustable rate options. Available options are

  • 5/1 ARM (i.e. fixed for the first five years and adjustable each year after that)
  • 7/1 ARM
  • 10/1 ARM

Active as of 10.03.2023

ProductInterest RatePointsAPR*Apply
10/1 ARM6.625% 07.12%Apply Now
7/1 ARM6.50% 07.23%Apply Now
5/1 ARM6.375% 07.29%Apply Now

Step into Your First
Home Mortgage

Reduced interest rates for the first three years.
Just 3% down and only 1% needs to be your own savings.

Frequently Asked Questions

What can we help you with today? 

A Home Equity Loan gives you the money up front with a fixed rate and a fixed term.  Monthly payments are principal and interest.

A Home Equity Line of Credit gives you easy access to your money when needed.  Lines of Credit have a variable rate and will adjust with the Prime Rate.  Monthly payments are interest only but you can paydown on the principal at any time. 

Our rates are tiered by credit score and depend on the product and term you choose.    

Typically, it is taking about 4-6 weeks from application to closing for Home Equity Loans.

Most of our Home Equity products do not have closing costs unless the loan amount exceeds $250,000.  You may be required to pay some closing costs (estimated $500 unless a Full Appraisal is needed) on our promotional Home Equity products.    

Yes, you can prepay your Home Equity loan without penalty.

Yes, we offer Home Equity Loans and Lines of Credit on investment properties.  We have competitive rates and a variety of options. Typically the member is required to pay closings costs and the appraisal fee.


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Laura Klaus

Helpful Resources

At People’s Credit Union, we are passionate about providing resources, information, and solutions to help you get ahead.


Our convenient financial calculators can help you make more informed decisions. 

How much mortgage might I qualify for?

This calculator will help answer how much mortgage you might qualify for based on your total monthly gross income and expenses.

Should I refinance?

This calculator will tell you if the amount you save in interest will exceed these refinancing costs.

How much will my fixed rate mortgage payment be?

This calculator computes the payments (principal and interest) for a fixed rate loan.

How much home can I afford?

This calculator computes the most expensive house you can buy based on the highest payment you can afford, but does not indicate whether you would qualify for the loan.

Which mortgage is better for me?

This calculator will help you compare the total cost of any two or three mortgages.

How much will I save by increasing my mortgage payment?

Find out how much interest you can save by paying an additional amount with your mortgage payment.