Mortgage ARM Rate Information
7-1 ARM
Rates are subject to change at any time. Initial Annual Percentage Rate (APR) for the 7 year Adjustable Rate Mortgage (ARM) is based on a $100,000 loan amount. Rate fixed for the initial 7 year period then is subject to change annually and is based on the 1 year Treasury, 5.42% as of 9/19/2023, plus a margin of 2.75%. Max rate adjustment of 2% each year and 5% over the life of the loan. Minimum credit score of 700 required. Maximum loan amount of $1,250,000. Maximum loan to value of 95%. Subject to normal underwriting guidelines. Offer valid for primary residence and second homes only. Northwest Bank Checking Account required. Property insurance is required. Payments do not include taxes and insurance and actual payments may be higher. Private Mortgage Insurance may be required.