15/15 arm

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*Adjustable rate mortgage (ARM). 15-year initial rate with annual percentage rate (APR) of 3.512% and an interest rate of 3.625% as of 11/6/2014. After 15 years rate is subject to change annually. The rate at the time of adjustment is based on the 1-year Constant Maturity Treasury index plus a margin of 2.75%. Current index is 0.11%.

15/15 ARM. Increased Home Buying Power with a 15/15 ARM! (1) Receive a 30-year mortgage at a 15-year rate! The 15/15 Adjustable Rate Mortgage is the best choice if you want a loan with: Low initial payments; The benefits of both a fixed and an ARM product;

Get our 30-year home loan at the low 15-year rate with the 15/15 Adjustable Rate Mortgage (ARM) at Travis and lock in your rate for 15 years.

One of the benefits of a 15/15 ARM is that it typically starts off with a lower interest rate than you would get from a 30-year fixed mortgage. For example, the NIH Federal Credit Union currently offers the 15/15 ARM with an initial interest rate of 4.250%, while its 30-year fixed rate mortgage is offered at 4.625%.

15/15 ARM: First and only adjustment after 15 years. As you can see, an ARM can give you as long as 10 years of fixed-rate payments, or as little as one month. Then you’re looking at adjustable rates from there on out.