Adjustable Rate Mortgages. Parents and baby playing in their new house.

Looking for a conventional adjustable-rate loan for a home purchase or refinance? An Adjustable Rate Mortgage from CFE is a great solution. The rate and payment are fixed for the first 3, 5, 7, or 10 years and adjust annually after that for the remaining term.

Features and Benefits
  • 30-year term
  • Minimum loan amount $25,000; maximum loan amount varies
  • Point options include 0, 1% and 2%
  • Initial annual percentage rate is usually lower on an ARM than a fixed-rate mortgage
  • Security of a 2% annual cap and a 6% lifetime cap
  • No pre-payment penalties
  • Purchase or refinancing available
  • Earn rebates when you use HomeAdvantage Program to buy or sell a home

Adjustable Rate

Type Interest Rate Loan APR* Loan Points
3/1 Year Adjustable Rate 3.375% 5.031% 0.000
5/1 Year Adjustable Rate 3.500% 4.815% 0.000
7/1 Year Adjustable Rate 3.625% 4.663% 0.000
10/1 Year Adjustable Rate 4.000% 4.644% 0.000

What to Expect

You can apply for an Adjustable-Rate Mortgage at any CFE branch, by calling our Contact Center, or online. To obtain a mortgage through CFE, you will need to be a CFE member in good standing.


Some other helpful actions to prepare for the mortgage application process include the following:

  • Calculate your income and monthly debt obligations
  • Check your credit and take steps to improve it where possible
  • Determine your mortgage budget
  • Begin saving for a down payment if you haven’t already

Learn more about buying a house with CFE. 

Buying a House


Know someone who can benefit from an adjustable-rate mortgage? Share this info with them.