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7/1 ARM Mortgage Loan

Own your dream home with confidence

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Save More Upfront with a 7/1 Adjustable Rate Mortgage
Rates as low as 5.90% / 6.57% APR*

Take the next step toward homeownership with a mortgage designed to fit your needs. Our Adjustable Rate Mortgage (ARM) offers flexibility, competitive rates, and exclusive benefits tailored to help you achieve your goals. Here's what you can expect:

  • Loan Amounts up to $806,500
  • 7/1 ARM with 30-Year Amortization
  • Rates as Low as 5.90% / 6.57%APR*
  • Up to 89.9% Loan-to-Value (LTV)
  • No Private Mortgage Insurance (PMI)
*This is not a commitment to lend. This program is for purchases of owner-occupied primary residences only. Other mortgage loan programs are available. All loans are subject to credit approval. Rate and terms are subject to change without notice. Advertised rate and Annual Percentage Rate (APR) applies to the 7/1 Adjustable Rate Mortgage (ARM) which has a fixed interest rate for the first seven years and adjusts annually for the remainder of the 30-year term. Disclosed APR is based on a sales price of $375,000, a down payment of $75,000, and a loan in the amount of $300,000.00, with closing costs of approximately $8,900. Closing costs include property appraisal, commitment fees, origination fees, settlement/title fees, etc. There will be 360 monthly payments ranging from $2,093 to approximately $2,971 over 30 years and includes estimates for taxes and insurance. Maximum loan-to-value (LTV) is 89.9% for this program. This program does not require private mortgage insurance (PMI). Additional fees and closing costs may apply. This program is available for primary residences located in the Peoples Bank Market Area. Borrowers must meet income, employment, and other eligibility criteria. Consult a Mortgage Originator for full details, terms, and restrictions that may apply.