ADJUSTABLE-RATE MORTGAGES
There are all kinds of adjustable-rate mortgages. We have one with the rates, terms and benefits that’s right for you.
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Know the benefits of an adjustable-rate mortgage.
You may actually be better off with a rate that changes over time.
An adjustable-rate mortgage (ARM) is just what it sounds like. Your mortgage interest rate will change over the life of your loan. Why consider an ARM? You want a starter home and plan on moving up to something bigger in a few years. Or plan on selling in a couple of years. You may be expecting your income to go up in a few years. Think about getting an ARM if you:
- Want to qualify for a larger mortgage amount
- Want to keep your payments lower during the first few years of your loan
- Plan to stay in your home for a relatively short period of time
- Plan to pay off your mortgage in a few years
- Expect your income to increase significantly
Hometown Heroes Mortgage Program*
We appreciate and honor those who are on the front lines in our communities. That’s why we are offering a special loan promotion exclusively for you! As our Hometown Heroes, you can enjoy the following benefits:
- Additional .25% off the rate.
- $1000 towards closing costs OR rate buy down.
- This incredible offer is available for properties located in Pennsylvania, New Jersey, Ohio, West Virginia, and People First may consider additional properties outside of these states1.
This exclusive offer is available to:
- First Responders: Police, EMTs, and Firefighters
- Teachers and Education Staff (including support and admin roles)
- Medical Professionals (including support and admin staff)
- Police and Law Enforcement agencies (public not private)
We value your service and want to show our appreciation by providing you with these exceptional benefits.
ADJUSTABLE-RATE MORTGAGES
Adjustable-Rate Mortgages
| Term | Rates As Low As | Points | APR* As Low As |
|---|---|---|---|
| 5/1 Conforming ARM1 | 5.250% | 0 | 7.162% |
| 5/1 Jumbo ARM2 | 6.000% | 0 | 7.396% |
| 10/1 Conforming ARM1 | 5.750% | 0 | 6.708% |
| 10/1 Jumbo ARM2 | 6.500% | 0 | 7.135% |
*APR denotes Annual Percentage Rate. Rates reflect the best rates available today. Not everyone that applies will qualify for the rates shown. All loans are subject to individual credit approval, subject to change without notice. Please note that the posted rates are for Rate Locks that do not exceed 60 days. Pre-qualification is not a commitment to lend. 1Conforming Loan amounts from $50,000 to $726,200. 2Jumbo Conforming Loan amounts greater than $726,200.
Apply in minutes
There’s only one quick form standing between you and a pre-approved mortgage.
Apply Online and get pre-approved for your mortgage in less than 2 business days.
Call to make an appointment at 610.797.7440 extension 612.
What you need to know about ARMs.
Why would you want a higher rate later in your mortgage term? It depends.
Lower rates. Because ARMs are subject to rate adjustments later in the mortgage term, the initial interest rate is set lower than standard fixed-rates. This rate provides you with initial lower payments or increased purchasing power. Ideal if you only plan on being in your home for a few years.
ARMs are different. Our programs provide an initial fixed-rate from one to ten years before the rate adjusts. These are good options if you want added payment stability with lower monthly expenses.
Changing lifestyles. Consider an ARM if you’re a first-time home buyer and don’t plan on staying in your “starter” home for 30 years. Or you’re an experienced homeowner planning to pay off your mortgage long before maturity date. You can choose an ARM with an initial fixed-rate period that corresponds to the amount of time your loan is expected to be outstanding.
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Disclosures
Processing and underwriting for People First Mortgages are provided through our partner, First Heritage Financial, LLC. Property must be a 1-4 family primary residence. Loans subject to credit approval and collateral conditions. Loan to value cannot exceed 90%. Property insurance required. Membership eligibility required. People First Federal Credit Union NMLS# 510017.
*Hometown Heroes promotional program is available to qualifying first responders and employee support staff only. Qualified Members who apply for a mortgage and lock in their interest rate will receive a discounted rate of up to .25% from the qualified rate, and Lender Credits of up to $1000. Rates cannot be locked on purchase loans until you have a signed sales contract on a specific property. All other standard fees will apply. Offer may end at any time. Offer on conventional mortgage applications only. Property must be a 1-4 family primary residence. Loans subject to credit approval and collateral conditions. Property insurance required. Private mortgage insurance required over 80% loan to value. Membership eligibility required. See People First Federal Credit Union or First Heritage Financial, LLC. for further details on eligibility for the Hometown Heroes promotion. Cannot be combined with any other promotional offers. People First Federal Credit Union NMLS# 510017.
1Properties in other states may qualify, please contact People First for further information.