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Adjustable-Rate Mortgages

Low initial rates and payments.

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Lower initial rates than a fixed-rate loan, then adjusts up or down.

 

Down payment as low as 5%.

 

No negative amortization — a portion of every payment lowers your principal.

 

Choose no Private Mortgage Insurance (PMI), saving you hundreds on your monthly payment.1

 

Lender-paid closing costs option for purchases.2

5/5 Adjustable-Rate Mortgage
as low as

6.14 % APR
CURRENT MORTGAGE RATES
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Why Get an Adjustable-Rate Mortgage?

An adjustable-rate mortgage makes homebuying or refinancing more affordable because your loan may start with a lower initial interest rate than a fixed-rate loan. If you plan to stay in your home for just a few years or you expect your income to increase, an ARM may be a great solution.

We'll help you achieve the dream of homeownership.

Full-Service Homebuying with SchoolsFirst FCU Home360®

We'll pair you with a loan consultant and local real estate agent to guide you through every step of buying or selling your home, with expert advice and exclusive discounts to save you thousands.

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You Choose Your Loan Term

Our 5/1, 7/1, and 10/1 ARMs offer a fixed rate for the first five, seven or 10 years, then adjust up or down every year. We also offer a 5/5 ARM, with a fixed rate for five years, adjusting up or down every five years after. We provide interest rate caps for your protection, limiting how much the interest rate can rise. And you can always apply to refinance to a fixed-rate loan if market conditions improve, or your preferences change.

Homebuying Resources

Yes, You Can Buy a Home in This Competitive Market

READ MORE
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Determine Your Adjustable-Rate Loan Payment

CALCULATOR

Get the Right Home Insurance Coverage

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Protect Your Biggest Investment

  • Homeowners Insurance: Make sure you're protected from losses due to fire, lightning, burglary, vandalism, storms and more.
  • Condominium Insurance: Get coverage for interior walls and floors, personal property and personal injury.
  • Earthquake Insurance: This separate policy helps you recover, replace and rebuild if a tremor damages your home.
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Apply Online

Log in with your SchoolsFirst FCU user name and password, or as a guest.

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Get Professional Guidance

Discuss your options with a real estate loan consultant in person, over the phone or at a branch.

MAKE AN APPOINTMENT
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Call

Monday through Friday, 8 a.m. – 7 p.m.
Saturday, 9 a.m. – 3 p.m.

(800) 462-8328, EXT. 8288
Disclosures

APR = Annual Percentage Rate. All loans subject to approval.

​The interest rates and APRs listed above are effective as of 04/30/2025 and are subject to change without notice. The pricing you may qualify for is based on factors including your credit rating and loan-to-value (LTV) of your property. Loan pricing that you may qualify for can be different based on your credit history, loan-to-value (LTV), occupancy, property type, loan amount, loan purpose and income/financial obligations. A minimum credit qualifying score is required. Rates and programs are subject to change without notice. Adjustable-rate home loans; rate and payment subject to change after loan consummation. Lending area: State of California.
  1. Interest rate/APR are higher for programs available with no PMI; loan-to-value range from 80.01% - 95%; minimum down payment of 5%.
  2. Lender-paid closing cost credit is only available for purchase transactions. Amount of the credit varies based on loan amount and may be used for recurring and non-recurring closing costs. If the loan is paid in full prior to the 36th regularly scheduled payment, you will be obligated to reimburse SchoolsFirst FCU for a prorated amount of the closing costs paid on your behalf. This amount will be added to the loan payoff balance.

NMLS Identifier: 405503

CA Insurance License 0I19344. Purchasing an insurance product from SchoolsFirst Insurance Services is not required to originate a loan with SchoolsFirst FCU.