Lower monthly payments during the first five years
Greater payment stability; changes occur every 5 years vs. annually
Generous loan limits up to $2 million
Only 5% down for loans up to $850k with PMI approval
How a 5/5 ARM Mortgage Works
The 5/5 Adjustable Rate Mortgage gives members a low initial rate, lower payments and longer fixed periods through the life of the loan. Similar to a 5/1 ARM, the 5/5 ARM features a rate that’s fixed for the first five years, but instead of your rate adjusting each year after the initial period, your rate adjusts only once every five years.