Adjustable-Rate Mortgages
- Lower initial rates
- Reduced monthly payments
- Choice of terms
Lower rates create some breathing space
Buying a house can stretch anyone's finances. But there are ways to make things easier. With an adjustable-rate mortgage, you enjoy a lower interest rate for a certain number of years. That can buy you time to rebuild savings - and free up funds for furniture, appliances, landscaping or anything else your new home might require.
Adjustable-Rate Loan Features
- With our 7/1 ARMs, borrowers pay lower rates for the first seven years.
- With our 5/5 ARM, borrowers pay lower rates for five years. (rates may be adjusted every five years after that)
- With all ARMs, rate caps limit the size of rate increases in any one year or over the life of the loan
- Local servicing for the life of the loan.
Our team has more than 30 years of mortgage lending experience. Call a mortgage specialist for more details or apply online.
Purdue Federal Credit Union serves members worldwide and operates branches throughout Greater Lafayette, Crown Point and La Porte, Indiana.
Helpful Resources
4 NOTICE: Current credit freezes you MAY have placed on one of the following bureaus – Experian, Equifax or TransUnion – will delay processing of your loan application. To avoid this delay, consider temporarily lifting all credit freezes.
3 Subject to credit approval. Other terms and conditions may apply. Membership eligibility required.
5 Please visit the Nationwide Mortgage Licensing System (NMLS) to review the registered status of Purdue Federal employees.