Coastal Credit Union
Coastal Credit Union

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ADJUSTABLE RATE MORTGAGE

Maximize purchasing power with a lower rate and lower initial payment.
GET RATE QUOTE

Enjoy a lower rate mortgage

OUR ADJUSTABLE RATE MORTGAGES FEATURE

Up to 105% LTV1
No down payment, and no PMI costs, to help you get into your dream home.
Local Servicing
Unlike other lenders, we don’t sell your mortgage servicing.
Low Fees
Our lower fees make for easy,
low-stress closings.
Up to 105% LTV

Flexible Terms and Rates to Fit Your Budget and Lifestyle

  • Our 7/1 ARM, and 30 Year Fixed features no down payment options with up to 105% Loan to Value (LTV)1 on home purchases
  • Home purchases can go beyond 100% financing to use your money as you see fit. All while saving money every month with no Private Mortgage Insurance (PMI) requirement!
  • ARMs maximize purchasing power with a lower rate and lower initial payment. Rate will change, depending on market conditions, after your introductory term of 5, 7 or 10 years
  • Underwriting fee of just $600 and no charges for document prep or credit reports mean substantial savings
  • Loan amounts up to $647,200
  • We also offer 5/1, 5/5, 7/1 and 10/1 ARMs. Rate is fixed for 5, 7 or 10 years before adjusting every year or every 5 years

  • See what documents you’ll need with our Mortgage Application Checklist.

Resource Center

Considering Homeownership

More than 70% of Americans consider homeownership to be an important part of the American Dream but buying a home can be one of the most expensive, albeit rewarding, decisions you’ll ever make.

All About Mortgages - What You Need to Know

For a majority of people in the U.S., buying a home is a big part of the American Dream. But how many years would it take to save up the lump sum you’d need to pay for a house in full?

I have always gotten excellent service from each person I have worked with. I have also received the best interest rate for my mortgage.
Coastal Member

Frequently Asked Questions

All FAQs

1. Up to 105% loan to value (LTV) financing on home purchases. Up to home’s purchase price or appraised value, whichever is less. For loans with an LTV exceeding 100%, borrower must establish direct deposit and have a qualifying Coastal deposit account in addition to the Primary Share account.

For a $250,000 loan for a term of 30 years with a 4.50% APR, the monthly payment is $1,267.00. Taxes and insurance are not included in this payment example and that the actual payment obligation could be greater. All loans are subject to approval. Additional product restrictions, terms, and conditions may apply. Membership eligibility required.

For a $150,000 loan and a term of 7/1 ARM with a 3.00% initial interest rate, the APR for this loan type is 3.305%, subject to increase. Based on current market conditions, the monthly payment schedule would be 84 payments of $632.40. Taxes and insurance are not included in this payment example and that the actual payment obligation could be greater.

For a $150,000 loan and a term of 5/1 ARM with a 3.479% initial interest rate, the APR for this loan type is 3.305%, subject to increase. Based on current market conditions, the monthly payment schedule would be 60 payments of $622.34. Taxes and insurance are not included in this payment example and that the actual payment obligation could be greater.

For a $150,000 loan and a term of 10/1 ARM with a 3.406% initial interest rate, the APR for this loan type is 3.305%, subject to increase. Based on current market conditions, the monthly payment schedule would be 120 payments of $642.56. Taxes and insurance are not included in this payment example and that the actual payment obligation could be greater.

** Carrier data rates may apply.

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