Plant Your Feet in a New Home at
2.875%/3.003% APR1 for Five Years.
Schools' 5/1 ARM provides a unique opportunity to have the home you want with the payment you need.
- Finance up to 95%2 of your home's value.
- Pay one point3 for a reduced rate of 2.625%/2.916% APR.
- Receive a fast approval and straightforward closing process.
For more details or to begin your application, contact a Schools home loan expert at 916-569-5473 (Sacramento area) or 800-962-0990, ext. 5473.
Rates, terms and conditions are subject to change.
1 APR=Annual Percentage Rate. All loans are subject to credit approval and Credit Union policies and procedures. Standard closing costs apply. The advertised rate is subject to adjustment beginning with the sixth year of the 30-year term. The rate may increase. The 5/1 ARM is determined by adding a Margin of 2.875% to the Index in effect at that time. Representative example: A $200,000 loan with a rate of 2.875%/3.003% APR would have a payment of $829.78 for the first 60 months. Based on current market conditions, the representative payment example for the remaining balance of $177,014.33 at a rate of 3.00%/3.046% APR would be $841.31 for the remaining 61-360 months.
2 A down payment of 10% is required on owner-occupied properties. A down payment of 20% is required on second homes. Investment properties are ineligible under the 5/1 ARM program. There is no minimum loan amount. Maximum loan amount is $417,000.
3 A point is equivalent to 1% of your loan amount and is used to buydown your interest rate.