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.
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