Fixed Rate and Adjustable Mortgages

Adjustable Rate Mortgages

Calculate payments, explore products, and check today's rates

Central One offers you the option to lock in your rate for up to 120 days on our Adjustable Rate Mortgages at no cost to you. You'll get the lowest published rate from the date you apply up to 7 days prior to closing (not to exceed 120 days). If rates decrease at all prior to closing, you receive the lower rate. Save an extra .25% on your adjustable mortgage rate by having a Premium Checking account when purchasing a primary residence.

Our adjustable rate mortgages offer you low initial rates to fit your situation - whether a first time home buyer or looking to stay in your home for less than 10 years. ARM's lock in a fixed rate and then adjust based on the term you choose. Our popular 10/5 ARM gives you the comfort of a fixed rate for 10 years and then adjusts once every 5 years.

To limit your risk of rate fluctuation, Central One caps the interest rate change to 2% (up or down) at every review period and 5% (up or down) over the life of the mortgage.

Looking to put no money down? Learn about our 100% financing options. Learn more.

Don’t get caught paying a higher rate with other lenders, apply today.

Protect your biggest asset with a homeowners insurance policy from Oak Tree Insurance. Locally written and serviced. Learn more

See ARM Rates (Including Jumbo Rates)

ARM	Loan to Value	Rate	APR	Est. Payment
10/5 ARM	≤ 75%	6.490 %	6.484 %	Calculate
Additional Information
The 10/5 Adjustable Rate Mortgage offers a fixed APR of 6.484 % for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Begin the Application Process
	> 75%	6.740 %	6.731 %	Calculate
Additional Information
The 10/5 Adjustable Rate Mortgage offers a fixed APR of 6.731 % for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Begin the Application Process
5/1 ARM	≤ 75%	6.240 %	6.395 %	Calculate
Additional Information
The 5/1 Adjustable Rate Mortgage offers a fixed APR of 6.395 % for the first 5 years then adjusts to a new rate every 1 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Begin the Application Process
	> 75%	6.490 %	6.641 %	Calculate
Additional Information
The 5/1 Adjustable Rate Mortgage offers a fixed APR of 6.641 % for the first 5 years then adjusts to a new rate every 1 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Begin the Application Process
3/3 ARM	≤ 75%	5.990 %	6.256 %	Calculate
Additional Information
The 3/3 Adjustable Rate Mortgage offers a fixed APR of 6.256 % for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Begin the Application Process
	> 75%	6.240 %	6.502 %	Calculate
Additional Information
The 3/3 Adjustable Rate Mortgage offers a fixed APR of 6.502 % for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Begin the Application Process
1/1 ARM	≤ 75%	5.740 %	6.388 %	Calculate
Additional Information
The 1/1 Adjustable Rate Mortgage offers a fixed APR of 6.388 % for the first 1 years then adjusts to a new rate every 1 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Begin the Application Process
	> 75%	5.990 %	6.634 %	Calculate

Best for:

First time home buyers
Those planning to live in their new home for 10 years or less
Those wanting a lower down payment and lower closing costs

Benefits of a 10/5 ARM

Low down payment for qualified applicants
Reduced closing costs compared to a fixed rate mortgage
Often an APR much lower than a 30 year fixed rate mortgage
No prepayment penalties
Rate reduction for setting up automatic payments from your Central One checking account
Flexible terms available
Servicing from Central One for the life of the loan

Frequently Asked Questions

Suggested Calculators

How much home can I afford?
What will my payment be?
Get an insurance quote from Oak Tree Insurance

Want to reduce the upfront cost of your home purchase?

Shop with one of these local realtors and save $500 on your closing costs!***

Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

Apply Now

call a Mortgage Specialist at 800-527-1017

Fixed Rate Mortgages

Calculate payments, explore products, and check today's rates

Are you looking for your forever home? Do you want peace of mind knowing that your mortgage rate will stay fixed for the life of the loan? Then a fixed rate mortgage is right for you! Take advantage of our 60 day no fee rate lock at the time of your application. Loan must close and be disbursed within 60 days.

Looking to put no money down? Learn about our 100% financing options. Learn more.

Protect your biggest asset with a homeowners insurance policy from Oak Tree Insurance. Locally written and serviced. Learn more

See Fixed Rates

Fixed Term	Points	Rate	APR	Est. Payment
7 Year	0	6.250 %	6.338 %	Calculate
	1	5.750 %	6.141 %	Calculate
	2	5.250 %	5.945 %	Calculate
	No Closing Costs**	7.000 %	7.000 %	Calculate
10 Year	0	6.375 %	6.439 %	Calculate
	1	5.875 %	6.160 %	Calculate
	2	5.375 %	5.880 %	Calculate
	No Closing Costs**	7.125 %	7.125 %	Calculate
12 Year	0	6.500 %	6.555 %	Calculate
	1	6.000 %	6.244 %	Calculate
	2	5.625 %	6.058 %	Calculate
	No Closing Costs**	7.250 %	7.250 %	Calculate
15 Year	0	6.500 %	6.546 %	Calculate
	1	6.000 %	6.244 %	Calculate
	2	5.625 %	6.058 %	Calculate
	No Closing Costs**	7.250 %	7.250 %	Calculate
20 Year	0	6.875 %	6.912 %	Calculate
	1	6.500 %	6.665 %	Calculate
	2	6.125 %	6.415 %	Calculate
	No Closing Costs**	7.625 %	7.625 %	Calculate
30 Year	0	7.000 %	7.029 %	Calculate
	1	6.750 %	6.877 %	Calculate
	2	6.500 %	6.724 %	Calculate
	No Closing Costs**	7.750 %	7.750 %	Calculate

Best for:

Forever homes
Those planning to live in their home for 10 years or more

Benefits of a Fixed Rate Mortgage

Peace of mind knowing your rate will never go up
Low down payments for qualified applicants
No prepayment penalties
Flexible terms available
Servicing from Central One for the life of the loan

Frequently Asked Questions

Suggested Calculators

How much home can I afford?
What will my payment be?
Mortgage Point Calculator
Get an insurance quote from Oak Tree Insurance

Want to reduce the upfront cost of your home purchase?

Shop with one of these local realtors and save $500 on your closing costs!***
Open a Premium checking account to be eligible for reduced rates.

Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

Apply Now

or call a Mortgage Specialist at 800-527-1017

Jumbo Mortgages

Finance Jumbo Mortgages with great rates and terms!

Needing a larger loan? Central One has great Adjustable Rate option available to you.

Protect your biggest asset with a homeowners insurance policy from Oak Tree Insurance. Locally written and serviced. Learn more

Benefits of Choosing Central One

Local Underwriting and Processing
No prepayment penalties
Flexible terms available
Servicing from Central One for the life of the loan

Frequently Asked Questions

Suggested Calculators

How much home can I afford?
What will my payment be?
Mortgage Point Calculator
Get an insurance quote from Oak Tree Insurance

Want to reduce the upfront cost of your home purchase?

Shop with one of these local realtors and save $500 on your closing costs!***
Open a Premium Checking account to be eligible for reduced rates.

Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

Apply Now

or call a Mortgage Specialist at 800-527-1017

Looking to put no money down?

Central One offers 100% financing option on select mortgages.

Available on Central One 10/5 adjustable and 12, 10, and 7 year fixed rate mortgages
Must be primary residence (single family home/condo)
Purchase only
Must meet minimum credit score requirement

Other terms and conditions apply. For more details, call a Mortgage Specialist at 800-527-1017.

* Requirements for benefits that include jumbo fixed rates and mortgage rate reduction: Must have a Premium Checking account. In addition to maintaining all other membership and Premium Checking account requirements, mortgage must be on primary residence purchase only. All loan programs, rates, terms and conditions are subject to change. Loan approval and actual rate will be determined based on credit history, term, loan to value, and other factors. Please contact a lending specialist at 800-527-1017 for additional information.

**No Closing Cost program has a minimum loan amount of $125,000. Available on owner-occupied homes only. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. mortgages

*** $500 savings for using one of the local realtors may not be combined with our no-closing-cost program or other Central One Federal Credit Union programs.