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What is a 5/5 ARM Loan?

A 5/5 ARM Loan is a loan that has an adjustable interest rate. Your rate is locked in for five year increments and can adjust every fifth year.

The Process:

To help make the process easier to understand we have laid out some basic steps involved in purchasing or refinancing your home.

  • Application, our online application makes it easy to apply. Once you have submitted your application it is reviewed by one of our Mortgage Loan Officers who will help you through the transaction.
  • Loan Estimate, once you have a property your loan officer will provide you with a loan estimate, this will show you an estimate of what fees may be charged to process or close your loan.
  • Documents needed, your loan officer will provide you with a list of documents that will be needed to process your loan.
  • Processing, your file will be transferred to the processing department where an experienced processor will prepare your file for the underwriting stage.
  • Underwriting, the underwriter makes sure that all loan requirements are met. If any additional documentation is needed your loan officer or processor will notify you.
  • Closing, at the title company you will be presented with your final closing documents for signature. An experienced closer will walk your through each document and answer any questions you might have.


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*30 year terms are available for 5/5 ARM loans. A 5/5 ARM loan for $250,000 based on a 3.389% APR for the first 60 months would have 60 monthly payments of $1,087.96. This payment does not include taxes or insurance, actual payments may be greater.Your interest rate will not change for the first 60 months of your loan. After the first 60 months, your rate can change every 60 months. On each change date, your rate will equal the index (Libor) plus the margin rounded to the nearest .125%. Your interest rate cannot increase more than 5.00% above the initial interest rate over the term of the loan. Your rate cannot decrease more than 0.00% below the initial rate. On the first rate change and every change date thereafter, your rate cannot increase more than 2.00%. Since the value of the index in the future is unknown, the First Adjustment Payment displayed is based on the current index plus margin (fully indexed rate). Rates are subject to change without notice.

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