Adjustable-Rate Mortgages

Embrace homeownership with an Adjustable-Rate Mortgage. We offer personalized solutions to fit your evolving home financing needs. 

Take advantage of lower introductory rates and payments.

Adjustable-rate mortgages often come with a lower initial interest rate than that of a comparable fixed-rate mortgage.

Adjustable-Rate Mortgage Features

CONFORMING/SUPER CONFORMING ARM 0% DOWN JUMBO ARM
TERM 5/54, 5/15 , or 7/16 7/13 5/57, 5/18, or 7/19
MAXIMUM LOAN AMOUNT (1-UNIT, SAN DIEGO) $1,006,250 $766,550 $2,250,000
MAXIMUM LOAN AMOUNT (4-UNIT, SAN DIEGO) $1,935,150 (consult a Mortgage Loan Officer) N/A N/A
MINIMUM DOWN PAYMENT As low as 5%1 depending on loan amount 0% Down3 As low as 5%2 depending on loan amount
TRANSACTION TYPE Purchase or Refinance Purchase Purchase or Refinance
PROPERTY USE Owner occupied, 2nd home, Investment Owner occupied Owner occupied, 2nd home
PROPERTY TYPE Single family, Condo, 2-4 Unit Single family, Condo Single family, Condo
MORTGAGE INSURANCE Standard monthly premium Standard monthly premium or No mortgage insurance Standard monthly premium
LENDER CLOSING COSTS $0 out of pocket options $0 out of pocket options $0 out of pocket options

What is an Adjustable-Rate Mortgage (ARM)?

An adjustable-rate mortgage is a home loan with a variable rate and payment. ARM loans start with an initial interest rate that is typically lower than that of a comparable fixed-rate mortgage. The initial low interest rate is fixed for a period of time, after that the rate adjusts periodically. This means after the initial fixed-rate period your monthly payment could go up or down, depending on market conditions.

When should you consider an Adjustable-Rate Mortgage?

The primary advantage to an adjustable rate mortgage is that typically you'll get a lower initial rate and payment than that of a comparable fixed-rate mortgage. A lower initial rate could save you money on interest payments. You should consider an ARM loan if you:

  • Are looking to buy a home and do not meet the qualification requirements for a fixed-rate mortgage (7/1 ARM9)
  • Are a first-time homebuyer needing a lower payment during your first years as a home owner
  • Would like to purchase a home with 0% down3 
  • Plan on selling or refinancing before the initial fixed-rate period is over

Today's Rates: Adjustable-Rate Mortgages

Term Rate APR Points
5/5 ARM⁴ 6.500% 6.726% 0.000%
5/1 ARM⁵ 6.500% 7.384% 0.000%
7/1 ARM⁶ 6.875% 7.419% 0.000%
5/5 Jumbo ARM⁷ 6.500% 6.704% 0.000%
5/1 Jumbo ARM⁸ 6.500% 7.361% 0.000%
7/1 Jumbo ARM⁹ 6.875% 7.397% 0.000%
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Our friendly home loan experts are here to help!
(858) 636-3045 Mon-Fri, 9am - 4pm
realestateloanofficer@calcoastcu.org

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A one-on-one call with a Mortgage Loan Officer can be extremely helpful. You can ask questions and even submit your application over the phone.

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Review your options with a Mortgage Loan Officer.


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Thank you for your home loan inquiry! A Cal Coast Mortgage Loan Officer will reach out to you within one business day to go over your options. If you'd like to speak to someone sooner please feel free to call 858-636-3045 (Mon-Fri, 9am - 4pm).

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APR= Annual Percentage Rate.

  1. 5/5 ARM with an initial interest rate of 7.125% and APR 7.012%, subject to increase. This does not include property insurance and taxes. Payment example based on a 30-year term, property value $550,000, 95% LTV, single family, owner-occupied. Rates subject to change once every 5 years based on the weekly average of the 5-Year Constant Maturity Treasury (CMT) index rate as made available by the Federal Reserve Board, plus a margin of 2.50%. Maximum adjustment cap 2% every 5 years and 5% over the life of the loan. Rates and terms as of 12/28/2023.

  2. 5/5 Jumbo ARM with an initial interest rate of 7.125% and APR 6.998%, subject to increase. This does not include property insurance and taxes. Payment example based on a 30-year term, property value $800,000, 95% LTV, single family, owner-occupied. Rates subject to change once every 5 years based on the weekly average of the 5-Year Constant Maturity Treasury (CMT) index rate as made available by the Federal Reserve Board, plus a margin of 2.50%. Maximum adjustment cap 2% every 5 years and 5% over the life of the loan. Rates and terms as of 12/28/2023.
  1. 0% Down 7/1/ ARM
  2. Conforming 5/5 ARM
  3. Conforming 5/1 ARM
  4. Conforming 7/1 ARM
  5. Jumbo 5/5 ARM
  6. Jumbo 5/1 ARM
  7. Jumbo 7/1 ARM

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