Xplore's Adjustable Rate Mortgages (ARMs)

Adjustable Rate

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An Adjustable Rate Mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.  The interest rate adjusts based on a preselected index plus a margin and is generally subject to periodic and life-of-loan interest rate caps and floors.

An adjustable rate mortgage loan (ARM) generally begins with an interest rate that is lower than a comparable fixed rate mortgage making it a smart financial choice if you are planning to pay off the loan in full within a specific amount of time.

  • Can be used to purchase or refinance a single-family home, Double, Tri-Plex, Four-Plex, Townhome or Condo.  This property can be your primary residence, second home or investment property. 
  • A cash-out refinance loan allows you to access the cash you’ve accumulated in your home’s value to tackle your goals like home improvement, debt consolidation, or investment opportunities.
  • Available in a variety of loan term options, to match your unique situation. 
  • Financing available up to 80% Loan-to-Value, depending on the type of transaction, property type, qualifying credit score, and property occupancy.
  • Quick, local decision-making and processing.
  • Interest on a home equity loan may be tax deductible.* 

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*Contact a tax advisor for further information regarding the deductibility of interest and charges.

Certain restrictions apply. Approval based on creditworthiness. Adjustable Rate Mortgages available only in Alabama, Louisiana, Mississippi, and Texas.

Xplore Federal Credit Union, New Orleans, LA. Your savings is federally insured to at least $250,000 and backed by the full faith and credit of the United States Government - National Credit Union Administration (NCUA), a U.S. Government Agency. Xplore Federal Credit Union is an equal opportunity housing lender. 

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