Adjustable Rate Mortgages

Ideal for buyers looking to move within the first ten years or have the mortgage for a shorter period of time.

Home Find a Mortgage Adjustable Rate Mortgages

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An Adjustable Rate Mortgage (ARM) starts with a fixed rate and switches to a variable rate for the remainder of the loan. For example, a 5/6 ARM means the first five years are at a fixed rate and adjusts every 6 months after.

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  • 30-year term
  • Fixed rate for the first 5, 7, or 10 years1,2

Adjustable Rate Mortgages (ARM)

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5/6 ARM - 30 Years
7/6 ARM - 30 Years
10/6 ARM - 30 Years

Homeowner's Insurance

Workers Insurance Agency provides customizable coverage with flexible payment options.4

Convenient Online Payments

Pay your loan anytime from your online banking account or through the mobile app.3

1Subject to credit underwriting and approval. Loan amount may vary based upon credit approval. Visit our rates page for all available rates and terms. Rates effective as of 8/18/2021 and subject to change at any time. Offers may be withdrawn at any time. Workers Federal Credit Union membership required. Annual Percentage Rate=APR. 

2To be used for purchase or refinance of 1-4 family, owner-occupied properties in Massachusetts or New Hampshire only. 5/6 ARM available single-family owner-occupied property in Massachusetts or New Hampshire. 7/6 and 10/6 ARM rates are also available for construction loans. Rates on ARMS may increase after closing at applicable adjustment term. Upon rate conversion to variable, The 5/6 can adjust initially at 2%, subsequently at 1% and capped at 5%. The 7/6 and 10/6 arms can adjust initially at 5%, subsequently at 1% and capped at 5%. To get the new rate after the fixed period we use a variable number called “the index” is the SOFR (Secured Overnight Financing Rate) and add “the margin”, which is 2.75%. Maximum loan amount of $2,000,000 at an 80% loan-to-value (LTV). The Annual Percentage Rate (APR) on an ARM is as low as 6.827% APR for 5/6 ARM - 30 Years. The monthly payment per $1,000 borrowed is $5.84. Taxes and insurance not included. Actual payment obligation may be greater. Required down payment as low as 5%. All listed ARM APRs are based on $100,000 loan to purchase a single family primary residence at a 60% LTV. The featured APR is based on a 5/6 ARM - 30 years.

3Text, data, and messaging rates apply for downloading/utilizing the app and text alerts.

4Coverage varies by carrier. Products offered by Workers Insurance Agency and Affiliated Companies. Coverage is subject to eligibility and availability. Other terms, conditions, and exclusions may apply. Insurance products available through Workers Insurance Agency, a non-credit union subsidiary of Workers Credit Union are: NOT A DEPOSIT NOT NCUA-INSURED, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY, NOT GUARANTEED BY THE CREDIT UNION, OR AFFILIATES MAY LOSE VALUE.