Adjustable-Rate Mortgage

Strengthen your homebuying power or refinance your loan with an adjustable-rate mortgage (ARM). It’s a fixed mortgage rate for 5 or 10 years, then adjusts with a cap.

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A couple standing in front of a home in North Carolina, where Civic Credit Union supports home buyers.

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Low ARM rates, low payments

Budget

Caps future monthly rate increases

Flexibility

Best mortgage if paying off or selling in a few years

Home mortgage with adjustable rate, fixed benefits

This adjustable-rate mortgage blends fixed rates with adjustable rates to help you buy more house with affordable monthly payments — or refinance an existing mortgage.

For the first 5 or 10 years, depending on your choice, the rate remains fixed and will not change. After that time, your ARM interest rate will adjust up or down with a cap on how high your interest rate can go. Buy more house now or refinance with low ARM rates.

Civic Credit Union member easily applying for an Adjustable Rate Mortgage online.

Terms

Make your mortgage work for you

Must be a Civic member to apply
5/1 ARM loans: a fixed mortgage interest rate for 62 months, then an ARM interest rate adjustment, and annual rate changes until paid off
10/1 ARM loans: a fixed mortgage interest rate for 10 years, then an ARM interest rate adjustment, and annual rate changes until paid off
30-year repay schedule (known as an amortization schedule)

Features

Find the mortgage that fits your needs

Credit union ARM rate, monthly principal and interest payments remain the same for an initial period of 5 or 10 years, then adjust periodically
No early pay-off penalties (perfect if you plan to move or sell in a few years)
ARM interest rate cap limits how high your mortgage interest rate can go over the lifetime of the loan

Mortgage Calculators

Our calculators can help you build a budget and make the right mortgage choice

calculators

Visit the Mortgage Center

We've partnered with the Credit Union Mortgage Association (CUMA) for a streamlined homebuying process. Apply online through the Mortgage Center and a CUMA agent will reach out to you to talk next steps to prequalification.

For the best member experience, use the Mortgage Center with a computer.

Civic percent graphic to help find the best rate for your mortgage.

1. Find your rate

Civic graphic that shows how easy it is to apply for a mortgage.

2. Apply online

3. Talk with an agent

Couple standing in front of their new home thanks to Civic Credit Union's first-time homeowners loan.

First-time Homebuyer Loan

The Civic First-time Homebuyer Loan gives you special terms and flexible options to help you enter your homeowner era!

First-time homebuyer loan with no down payment required
Applicant is not a homeowner (for past 3 years or ever!)
Get up to 97% financing, lower up-front costs
Choose a fixed or adjustable-rate mortgage (ARM)

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Fixed-Rate Mortgage

Home mortgage, no surprises

Choose fixed 15-year or 30-year term
Up to 97% financing for second home purchases, refinances
Mortgage professionals to guide your process
Up to 80% financing for cash-out refinances

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You know the details matter (and you are in good company)

Here are a few FAQs

What is a 5/1 ARM?

A 5/1 ARM is one type of adjustable-rate mortgage. The 5 refers to the length of the fixed-rate period which is the first five years. The "1" is how often the interest rate may adjust after that which is once per year.

Can I prequalify for a mortgage online?

Once you apply for a loan through the Mortgage Center, a CUMA agent will contact you to discuss the next steps to prequalification.

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