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Life is always changing-your mortgage rate must keep up. Adjustable-rate mortgages (ARMs) offer the benefit of lower rates of interest upfront, providing a versatile, economical mortgage option.

Adjustable-rate mortgages are built for versatility

Not all mortgages are produced equal. An ARM provides a more versatile approach when compared with conventional fixed-rate mortgages.
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An ARM is ideal for short-term homeowners, buyers anticipating earnings development, investors, those who can manage risk, first-time property buyers, and individuals with a strong monetary cushion.

- Initial fixed regard to either 5 years or 7 years, with payments computed over 15 years or thirty years

- After the preliminary fixed term, rate changes happen no more than once per year

- Lower initial rate and initial month-to-month payments

- Monthly mortgage payments may reduce

Want to discover more about ARMs and why they might be a great suitable for you?

Have a look at this video that covers the essentials!

Choose your loan term

Tailor your mortgage to your requirements with our flexible loan terms on a 5/1 ARM or 7/1 ARM. These alternatives include an initial fixed term of either 5 years or 7 years, with payments determined over 15 years or 30 years. Choose a shorter loan term to save thousands in interest or a longer loan term for lower monthly payments.

Mortgage loan originator and servicer info

- Mortgage loan begetter info Mortgage loan producer info The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires credit union mortgage loan pioneers and their utilizing organizations, as well as employees who act as mortgage loan pioneers, to register with the Nationwide Mortgage Licensing System & Registry (NMLS), get an unique identifier, and maintain their registration following the requirements of the SAFE Act.

University Credit Union's registration is NMLS # 409731, and our specific producers' names and registrations are as follows:

- Merisa Gates - NMLS ID # 188870.
- Estela Nagahashi - NMLS ID # 1699957.
- Miguel Olivares - NMLS ID # 2068660.
- Michelle Pacheco - NMLS ID # 662822.
- Britini Pender - NMLS ID # 694308.
- Sheri Sicka - NMLS ID # 809498.
- Elizabeth Torres - NMLS ID # 1757889.
- David L. Tuyo II - NMLS ID # 1152000.


Under the SAFE Act, customers can access details regarding mortgage loan producers at no charge via www.nmlsconsumeraccess.org.

Requests for information associated to or resolution of a mistake or errors in connection with an existing mortgage loan need to be made in writing through the U.S. mail to:

University Credit Union/TruHome. Member Service Department. 9601 Legler Rd . Lenexa, KS 66219

Mortgage payments may be sent out via U.S. mail to:

University Credit Union/TruHome. PO Box 219958. Kansas City, MO 64121-9958

Contact TruHome by phone throughout business hours at:

855.699.5946. 5 am - 6 pm PST Monday-Friday, 6 am - 11 am PST Saturday

Mortgage alternatives from UCU

Fixed-rate mortgages

Refinance from a variable to a fixed interest rate to enjoy predictable month-to-month mortgage payments.

- What is a UCU adjustable-rate mortgage? What is a UCU adjustable-rate mortgage? An adjustable-rate mortgage (ARM), likewise called a variable-rate mortgage or hybrid ARM, is a mortgage with a rate of interest that changes in time based on the marketplace. ARMs normally have a lower preliminary rate of interest than fixed-rate mortgages, so an ARM is a money-saving alternative if you desire the usually most affordable possible mortgage rate from the start. Find out more

- Who would benefit most from an ARM? Who would benefit most from an ARM? An ARM is a fantastic choice for short-term homebuyers, buyers anticipating earnings growth, investors, those who can manage threat, first-time homebuyers, or people with a strong monetary cushion. Because you will get a lower preliminary rate for the fixed period, an ARM is perfect if you're preparing to sell before that duration is up.

Short-term Homebuyers: lower preliminary expenses, suitable for those planning to offer or refinance rapidly.
Buyers Expecting Income Growth: ARMs can be advantageous if earnings rises substantially, balancing out potential rate increases.
Investors: ARMs can possibly increase rental income or residential or commercial property gratitude due to lower preliminary expenses.
Risk-Tolerant Borrowers: ARMs offer the potential for considerable cost savings if rate of interest remain low or decrease.
First-Time Homebuyers: ARMs can make homeownership more accessible by lowering the preliminary monetary difficulty.
Financially Secure Borrowers: A strong financial cushion helps reduce the danger of potential payment increases.
To get approved for an ARM, you'll typically need the following:

- A great credit history (the precise score varies by lender).
- Proof of income to demonstrate you can handle month-to-month payments, even if the rate adjusts.
- A reasonable debt-to-income (DTI) ratio to reveal your capability to manage existing and new debt.
- A deposit (often at least 5-10%, depending on the loan terms).
- Documentation like income tax return, pay stubs, and banking statements.
Getting approved for an ARM can in some cases be simpler than a fixed-rate mortgage due to the fact that lower initial rate of interest imply lower initial regular monthly payments, making your debt-to-income ratio more beneficial. Also, there can be more versatile requirements for credentials due to the lower initial rate. However, lending institutions might desire to ensure you can still pay for payments if rates increase, so excellent credit and steady earnings are essential.

An ARM often includes a lower preliminary rate of interest than that of a comparable fixed-rate mortgage, giving you lower monthly payments - a minimum of for the loan's fixed-rate duration.

The numbers in an ARM structure describe the initial fixed-rate duration and the change period.

First number: Represents the variety of years during which the interest rate remains fixed.

- Example: In a 7/1 ARM, the rate of interest is fixed for the first 7 years.
Second number: Represents the frequency at which the rates of interest can change after the preliminary fixed-rate duration.

- Example: In a 7/1 ARM, the rates of interest can change annually (as soon as every year) after the seven-year fixed duration.
In easier terms:

7/1 ARM: Fixed rate for 7 years, then adjusts every year.
5/1 ARM: Fixed rate for 5 years, then adjusts every year.
This numbering structure of an ARM assists you comprehend for how long you'll have a steady rates of interest and how typically it can change afterward.

Looking for an adjustable -rate mortgage at UCU is easy. Our online application portal is designed to walk you through the process and help you send all the required documents. Start your mortgage application today. Apply now

Choosing in between an ARM and a fixed-rate mortgage depends on your financial objectives and strategies:

Consider an ARM if:

- You prepare to sell or refinance before the adjustable period begins.
- You want lower preliminary payments and can handle potential future rate increases.
- You expect your earnings to increase in the coming years.


Consider a Fixed-Rate Mortgage if:

- You choose foreseeable month-to-month payments for the life of the loan.
- You plan to remain in your home long-term.
- You want security from rate of interest fluctuations.


If you're unsure, talk with a UCU professional who can help you assess your alternatives based on your monetary circumstance.

Just how much home you can pay for depends upon numerous aspects. Your down payment can differ from 0% to 20% or more, and your debt-to-income ratio will impact your approved mortgage quantity. Calculate your costs and increase your homebuying knowledge with our handy suggestions and tools. Find out more

After the preliminary set period is over, your rate might adapt to the market. If prevailing market rate of interest have decreased at the time your ARM resets, your regular monthly payment will also fall, or vice versa. If your rate does go up, there is always a chance to re-finance. Find out more

UCU ARM prices based on 1 year Constant Maturity Treasury (CMT). Rates subject to change. All loans are offered for purchase or refinance of main home, 2nd home, investment residential or commercial property, single household, one-to-four-unit homes, planned system advancements, condos and townhouses. Some restrictions may use. Loans issued based on credit evaluation.