Buying a home can be a complex and stressful process, especially when it comes to securing a mortgage loan. Consumers have a wide range of options when selecting a mortgage lender. Your lender selection, as well as the type of mortgage and term of the home loan you choose, can make a difference in the cost and the overall borrowing experience. With rising interest rates, consumers are looking for a better way to borrow. A smarter mortgage option starts here with Guthrie Community Credit Union’s new SmartMortgage.

15/15 ARM

A 15/15 ARM (Adjustable-Rate Mortgage) offers the flexibility you need to easily finance or refinance a home. With this 30-year mortgage, the rate is fixed for the first 15 years and adjusts once at the end of the 15th year. It remains fixed after that time. That’s basically an adjustable-rate mortgage with only one necessary rate change in 30 years. This makes it much more stable than a traditional ARM. It’s important to note that there is a 4% cap adjustment.

What makes Guthrie’s SmartMortgage different than other 30-year mortgage loans is that the starting rate can be as much as 3/4% lower than a regular 30-year fixed mortgage. This is because it is based on a 15-year fixed, rather than a 30-year fixed term. This can help borrowers afford more home now thanks to a lower rate. Payments are also amortized over the full 30-year term, which helps to keep the payments low. As an added bonus, Guthrie is featuring 0% down payment for qualified borrowers.*

One-click rate reset feature is a great option if rates go down!

If you are worried that rates will go down, Guthrie Community Credit Union’s SmartMortgage one-click rate reset feature will enable you to take advantage of falling rates at various times throughout the life of the loan. There is no need for a member to refinance if rates fall a certain percent or more with the rate reset feature. This consumer-friendly product provides a greater sense of security by allowing a borrower to change their rate with just the click of a button. When you reset your rate, your remaining term stays the same. This reduces the stress and time of refinancing by eliminating the need for borrowers to go through a full mortgage loan refinance process.

Lock your SmartMortgage rate while you shop around

If you’re still shopping around, Guthrie has a free 120-day rate lock for SmartMortgage borrowers. This enables you to hold the rate while you continue to shop around. If the rate drops prior to closing, your rate will come down to the market rate!

Mortgage loans made easy

With a 3/4% rate discount, 0% down for qualified borrowers*, free 120-day rate lock, and the exciting new rate reset feature, Guthrie Community Credit Union’s SmartMortgage is definitely the smarter way to finance your home. One of the greatest advantages of this loan is that you can reset your rate as many times as you want provided you meet the conditions of the SmartMortgage. Click here to learn more and apply for your SmartMortgage online.


*Certain restrictions and limitations apply. Private Mortgage Insurance required. Please contact a CUMA loan officer for more information.