Havertown is temporarily closed for a maintenance issue starting at 4 p.m. on Friday, April 26, 2023.
Please check back for updates on the branch status.
Havertown is temporarily closed for a maintenance issue starting at 4 p.m. on Friday, April 26, 2023.
Please check back for updates on the branch status.
Adjustable-Rate Mortgages
You can save more money in the early stages of your term.
Adjustable Rate Mortgages (ARMs) can offer you a reduced interest rate and monthly payment early on in your loan term. The catch? The initial rate is only fixed for a certain period of time, after which the rate – and your monthly payment – can move up or down depending on market conditions. Scary, right?
Not necessarily. If you don’t plan on living in one place for very long, ARMs are a cheaper alternative to fixed rates. Also, with a reduced monthly payment, you can use that extra money to put into the home, pay down other expenses or even earn more by throwing it into a higher-yielding investment. Also, if you’ve had some credit issues in the recent past that keep you from qualifying for a fixed rate mortgage, an ARM could be just the right alternative to missing the boat altogether in the current low interest rate environment!
Talk to us. Contact our mortgage specialists at mortgage@ardentcu.org.