Adjustable-Rate Mortgage

Adjustable Rate Mortgage Family

Adjustable Rate Mortgages (ARM) are ideal if you need a larger loan amount but want to keep your payments lower initially. An ARM may also be a good choice if in the years ahead, you expect your income to increase or plan to move or refinance when the rate adjusts.

  • Monthly principal and interest payments remain the same for only a certain number of years and then adjusts.
  • If you do not refinance prior to the end of the fixed rate, the rate can go up or down based on the market.
  • The initial interest rate is usually lower than on a fixed rate mortgage loan.
  • Local processing and underwriting for quick turnaround.

Adjustable Rate Mortgage Programs

Tioga State Bank offers a 5/1 ARM and a 15/15 ARM.

5/1 ARM- The interest rate is fixed for 5 years, and then subject to change every year thereafter.

15/15 ARM- The interest rate is fixed during the first 15 years, adjusts in year 16, and then remains fixed for the remainder of the term.



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