No matter where you are in life, Chevron Federal Credit Union works with you to find the best mortgage solution for your needs.
Whether this is your first home purchase or your fifth home purchase, you may prefer a mortgage with a lower initial interest rate that adjusts over time. Maybe you’ve got money tied up in other properties that you know you’ll sell in the next five years, or maybe you’re optimistic that your income will grow with time. Whatever the reason, an adjustable-rate mortgage provides a lower initial interest rate, which results in a lower initial payment and increased buying power up front.
How it works
- Start out with a lower interest rate than the average fixed mortgage, and enjoy lower payments up front
- Available in 15- and 30-year terms
- Enjoy an initial fixed-rate period of 3, 5, 7, or 10 years before the rate adjusts; the interest rate typically adjusts annually from there