Looking for More Flexibility in Your Mortgage?
Lock In a Low Introductory Rate for Your Next Home Purchase.
Save More Upfront with Our 5/1 Adjustable-Rate Mortgage.
With interest rates as low as 5.99% and 6.21% APR1, our 5/1 Adjustable-Rate Mortgage (ARM) may help reduce your initial borrowing costs compared to many fixed-rate options. It's a flexible solution for homebuyers looking to keep monthly payments lower during the early years of their loan.
What Does '5/1' Mean?
It's simplier than it sounds!
The numbers in a 5/1 ARM tell you exactly how the loan works:
- 5 = The number of years your introductory interest rate remains fixed.
- 1 = How often your interest rate can adjust after the fixed-rate period ends.
A 5/1 ARM combines the confidence of a fixed introductory rate with the long-term flexibility to adapt as market conditions change.
All Mortgages Feature
- Faster pre-qualifications
- Local service
- Flexible down payment options
- Competitive rates on purchases and refinances
- Budget Payment Plan - Bi-weekly payment option
Resources for success.
1APR = Annual percentage rate. Rate effective 8/18/2026. Conforming scenario, Property Value $500,000, down payment of 20% ($100,000) and loan amount $400,000. 5/1 ARM Rate 5.99%, APR 6.206% with a fixed rate for the first five (5) years and annual adjustments following the fixed period for a total loan term of 30 years. Current index is 4.0% (1 Year CMT), margin and floor of 2.25%. Adjustment caps are 2% first adjustment, 2% subsequent adjustments, 5% maximum adjustment.
For example, on a $10,000 30-year loan with an initial interest rate of 5.688% (based on the 3.020% index value rate in effect on August, 2022, plus a margin of 2.250% and less a discount plus a premium of 0.418%, rounded as provided above), the maximum amount that the interest rate can rise under this program is FIVE percentage points (5.000%) to 10.688% and the monthly payment can rise from a first year payment of $57.96 to a maximum of $88.15 in the 6th year. To see what your monthly payments would be, divide your mortgage amount by $10,000; then multiply the monthly payment by the resulting amount. (For example, the monthly payment for a mortgage amount of $60,000 would be $60,000 divided by $10,000 = 6; 6 times $57.96 = $347.76 per month.)
Membership eligibility required. Equal Housing Opportunity. Interest rates are subject to change. The interest rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other interest rates, points, and terms may be available. All loans are subject to credit and property approval. Other restrictions may apply. UVA Community Credit Union membership eligibility is required. A minimum ongoing balance of $5 is required in a Share Savings Account. NMLS #302946 nmlsconsumeraccess.org.