Special Mortgage Promotions



Address: Belvoir Federal Credit Union 14040 Central Loop
Woodbridge VA 22193
Phone: 703.730.1800

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Offering Our Members Unbelievable Mortgage Specials

5/1 Adjustable Rate Mortgage (ARM)

  • No points1
  • Rate of 4.625%2

What is a 5/1 ARM?
A 5/1 ARM is a mortgage in which the rate is fixed for 5 years. In the sixth year, the loan becomes an ARM. The new rate is determined by an economic index and is added to a pre-determined margin to arrive at your new monthly rate. The loan is fully amortized (or paid off) in 30 years if the normal payment schedule is followed.
Who should get a 5/1 adjustable rate mortgage?
A 5/1 ARM is popular when houses appreciate quickly, people who do not expect to stay in a home for long, or for those expecting to refinance before the rate adjusts.
What are the advantages of 5/1 ARM?
A 5/1 ARM’s advantages are the initial rates are lower than fixed-rate mortgages, you can qualify for a higher loan amount with an ARM (due to the lower initial interest rate), and if the interest rate drops, your monthly payments will also drop.

1 A point is one percent of the loan amount. Paying extra points at closing can lower the interest rate on the loan. For example, two points on a $100,000 mortgage would be $2,000. Points may be tax-deductible, depending on your situation. Check with a tax adviser.

2 The Annual Percentage Rate (APR) for this 5/1 ARM is 1.7912%.The ARM rate will adjust based on the index and margin. The adjustment cap is 2.00%. The lifetime cap is 6.00%. The margin is 2.75%. The maximum loan amount is $600,000. The rates are subject to change at any time without notice. Rates subject to loan approval and membership qualification. These promotional rates are for a limited time only.




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