Adjustable Rate Mortgages
Adjustable Rate Mortgages, ARMs, offer a lower starting interest rate and therefore, a lower monthly payment. Your rate and your payment may increase, though, as time goes on. Spectrum Credit Union ARM's are available in 15-, and 30-year terms and provide
an initial fixed rate period of 1, 3, 5, 7, or 10 years before the rate adjusts.