SmartMortgage 15/15 ARM

Smarter Borrowing Starts With SmartMortgage!

Our new SmartMortgage 15/15 ARM is a better way to borrow for your next home. Why? Allow us to explain! With this 30-year mortgage, the rate is fixed for the first 15 years, adjusts once at the end of the 15th year, and remains fixed after that time. That’s basically an adjustable-rate mortgage with only one necessary rate change in the middle of the 30-year term that’s capped at 4%. Plus, payments are amortized over the full 30-year term, which helps to keep them low. Now, before you nix the idea of utilizing an adjustable-rate mortgage, read a little more to learn about some of the amazing benefits of this product, including the one-click rate reset button.

SmartMortgage Features:

Up to a 0.75% rate discount

This is because the initial rate is based on a 15-year-fixed, rather than a 30-year fixed mortgage, allowing you to experience significant savings right out of the gate. And remember, SmartMortgage payments are amortized over 30 years, which helps to keep the payments low. This combination allows borrowers to afford more home now.

“One click” automatic rate reset

Take advantage of falling rates various times throughout the life of the loan at the click of a button with our “one-click” rate reset feature. When the rate is reset, the 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. Plus, it provides a great sense of security.

Free 120-day rate lock while shopping

SmartMortgage borrowers enjoy a free 120-day rate lock while home shopping. Plus, if the rate drops prior to closing, your rate will come down to the market rate!

0% down payment for qualified borrowers*

If qualified, no down payment is required!

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