1-800-639-2206
Home Banking

Adjustable Rate Mortgages

Seaboard Federal Credit Union is pleased to offer Adjustable Rate Mortgage (ARM) products. These loans offer extremely attractive initial interest rates, and we have placed limits on future rate-changes to protect our members from rapidly rising rates.

These loans will be secured by a mortgage on your primary residence. Check with your accountant to determine tax-deductibility. Proceeds may be used for home purchases, refinance transactions, cash-out refinance transactions, and home construction. Stick-built homes, as well as manufactured homes on your land, qualify for these programs. The property must be located in Maine to qualify.

Contact Seaboard today for more information on applying for a mortgage.

2-Year Adjustable Rate Mortgage (2 Year ARM)

  • 15 Year, 20 Year, and 30 Year terms are available.
  • Low interest rate for the first 2 years of the loan. The interest rate may re-price every 2 years thereafter. Future interest rates will be calculated by adding 3.50% to the 1 year Constant Maturity Treasury Yield (CMT).
  • The interest rate may not change by more than 1% at each re-price, or by more than 8% for the life of the loan.
  • You may finance up to 80% of the home’s value without Private Mortgage Insurance.
  • You may finance up to 95% of the home’s value with Private Mortgage Insurance.

Click for 2×2 Rates.

5-Year Adjustable Rate Mortgage (5 Year ARM)

  • 15 Year, 20 Year, and 30 Year terms are available.
  • Low interest rate for the first 5 years of the loan. The interest rate may re-price every 5 years thereafter. Future interest rates will be calculated by adding 3.50% to the 1 year Constant Maturity Treasury Yield (CMT).
  • The interest rate may not change by more than 2% at each re-price, or by more than 6% for the life of the loan.
  • We will finance up to 80% of the home’s value without Private Mortgage Insurance.
  • We will finance up to 95% of the home’s value with Private Mortgage Insurance.

Click for 5×5 Rates.

7/1 Adjustable Rate Mortgage (7/1 ARM)

  • 15 Year, 20 Year, and 30 Year terms are available.
  • Low interest rate for the first 7 years of the loan. The interest rate may re-price every year thereafter. Future interest rates will be calculated by adding 3.50% to the 1 year Constant Maturity Treasury Yield (CMT).
  • The interest rate may not change by more than 2% at each re-price, or by more than 6% for the life of the loan.
  • We will finance up to 80% of the home’s value without Private Mortgage Insurance.
  • We will finance up to 95% of the home’s value with Private Mortgage Insurance.

Click for 7×1 Rates.

Contact Seaboard today for more information on applying for a mortgage.



© 2014 Seaboard Federal Credit Union. 800-639-2206
Design and hosting by PHD Consulting, a Maine company.