ADJUSTABLE-RATE LOAN NY
Smart Choice Adjustable-Rate Mortgage with rate increase protection*
As your lender, we’re with you every step of the way. A Smart Choice Adjustable-Rate Mortgage can help make your dreams of homeownership come true.
Adjustable-Rate Loan NY
$500 Cashback at Closing¹
Are you pausing on the purchase of your dream home, waiting for rates to come down, or are you looking for a mortgage with more flexibility? A Smart Choice Adjustable-Rate Mortgage may be a good option for you.
Make a smart choice, start with a lower interest rate that’s fixed for a set period of time. After that, the rate adjusts based on market conditions. With our Smart Choice Adjustable-Rate Mortgage, you have the power to take advantage of a lower interest rate if market conditions change, with a low-cost modification.**
The Smart Choice Adjustable-Rate Mortgage (ARM) offers:
- A 3-year or 5-year ARM.*
- $500 cashback at closing.¹
- 1% less than a fixed-rate mortgage.*
- Low-cost rate modification** if market rates drop.
- Rate increase protection, your ARM will not increase more than 2% per adjustment.***
- ARM can even decrease up to 3% per adjustment! ****
- Increases are capped at 5% over the ARM term.***
Download your $500 cashback coupon here.
To apply for an ARM loan in NY simply:
- Connect with one of our experienced ARM mortgage lenders in NY via Video Banking.
- Become a member to take advantage of these great benefits, getting started is easy, join now!
- Apply online anytime.
- For more information about ARM loans in New York, call or text 315-777-8910. ²
- Text HOME to 315-782-0155. ²
Federally Insured by NCUA. Equal Housing Opportunity.
*Product available as a 3- or 5-year ARM. ARM Interest rate is 1% less than Northern Credit Union’s current rates on a 30-year fixed-rate mortgage as of 01/31/24. **Modifications will incur a $700 fee. ***2% increase can occur dependent on market rate fluctuation every year after the first 3 or 5 years annually, with a 5% overall rate increase cap over the term of the ARM. ****3% rate decrease is not guaranteed and subject to market rate fluctuation.
¹Between 2/21/24 – 9/30/24 members who have completed their application will receive a $500 deposit within 90 days after the loan closes. Cannot be combined with any other offer.
²Carrier Rates and Fees May Apply.
Meet Our Lenders
Our mortgage loan officers are experienced, licensed—and North County neighbors—who are ready to make the financing or refinancing of your home fast and simple.