Adjustable Rate Mortgages (ARM)s
Discover adjustable rate mortgages at 1st National Bank, offering flexible and competitive Arm loans for your unique needs.
What is an Adjustable Rate Mortgage?
An adjustable rate mortgage, or ARM, is a type of home loan with an interest rate that changes periodically based on market conditions. Initially, ARMs offer a lower interest rate than fixed-rate mortgages, making them an attractive option for borrowers looking for lower monthly payments or planning to move or refinance within a few years.
Benefits of Choosing an ARM from 1st National Bank
- Competitive Rates: Our adjustable rate mortgages come with some of the most competitive rates in the industry, ensuring you get the best deal possible.
- Flexible Loan Terms: We offer a variety of ARM loan terms, including 3/1, 5/1, and 7/1 to suit your specific needs and financial goals.
- Local Expertise: As a community bank, we have in-depth knowledge of the local real estate market, ensuring you receive the best guidance throughout the mortgage process.
- Personalized Service: Our experienced mortgage specialists are committed to providing you with personalized service and support, ensuring a smooth and stress-free home buying experience.
How to Apply for an Adjustable Rate Mortgage at 1st National Bank
- Contact Us: Reach out to one of our mortgage specialists by phone, email, or contact form.
- Pre-Qualification: Provide us with your information, and we will help you determine the loan amount you qualify for.
- Loan Application: Complete our online mortgage application or apply in person at one of our banking centers.
- Loan Processing: We will verify your information, request an appraisal, and process your loan application.
- Closing: After receiving final approval, we will schedule a closing date to sign the necessary documents and finalize your mortgage.
Ready to get started? Contact us today to speak with one of our mortgage specialists and begin your journey!
Contact a Mortgage Banker to get started!
Ready to start your homeownership journey? Contact a 1st National Bank Mortgage Banker for personalized guidance and to see if you qualify for the HOMEPOSSIBLE Program.
Try our free Mortgage Calculators
See how much house you can afford!
Adjustable Rate MortgageThis calculator helps you to determine what your adjustable mortgage payments will be. | ARM vs. Fixed RateUse this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. | Bi-Weekly PaymentsUsing bi-weekly payments can accelerate your mortgage payoff and save you thousands in interest. Use this calculator to compare a typical monthly payment schedule to an accelerated bi-weekly payment. | Maximum MortgageUse this calculator to determine your maximum mortgage and how different interest rates affect your how much you can borrow. |
Mortgage APRUse this calculator to find the APR on your mortgage. | 15 vs. 30 YearUse this calculator to compare these two mortgage terms, and let us help you decide which term is better for you. | Early PayoffUse this calculator to determine your monthly payment and amortization schedule. | Mortgage PointsSave thousands of dollars in interest by increasing your monthly mortgage payment. |
Mortgage QualifierCan you buy your dream home? Find out just how much you can afford. | Refinance BreakdownShould you refinance your mortgage? Use this calculator to determine when you will breakeven. | Refinance Interest SavingsUse this calculator to see how much interest you can save by refinancing your mortgage! | Rent vs. BuyAre you better off buying your home, or should you continue to rent? |
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
