Save money and secure peace of mind
Want the stability of a fixed-rate mortgage and the flexibility of an adjustable-rate mortgage (ARM)? Many borrowers opt for the security of a fixed-rate loan, yet our Convertible ARMs offer you lower rates and stability. This ARM features the lower rate of an adjustable-rate mortgage, plus the option of converting to a fixed-rate loan! Lower your interest rate risk and save money. Consider the Convertible ARM.

Be your own banker.
Let’s say you think fixed rates are headed lower. Lock in the lower payments of an ARM, then convert to a fixed-rate either before the loan closes or up to five years after. Convert at any time (not just at adjustment time), and you’re not limited to the rates available on the day you call to convert. You can watch the market, and, if rates start to move higher, choose the best rate from the previous seven days!
Choose how the loan adjusts.
ARMs can adjust annually after the first fixed period, but you can choose from an initial low fixed rate for a 1, 2, 3, or 5 year introductory period, during which your loan will not adjust. The shorter the introductory period, the better your interest rate. After that introductory period, the rate will adjust up or down annually. Don’t worry, there are reasonable limits to how high the rates can go.
Convert to fixed rate for free!
Once you have decided to convert to a fixed rate, simply notify the lender of your election to convert by completing a simple form, at no cost to you.
Use for building or buying.
Long-term interest rate locks are available for houses under construction. For borrowers buying homes, ARM financing can deliver substantial savings that would otherwise go to interest payments, freeing up cash for home improvements or debt repayment.
Qualify for more house.
So close to buying that dream house but can’t quite qualify for the payments on a fixed-rate loan? This ARM can get you more.