GRAND RAPIDS, Mich. (WOOD) — If you need help reaching your financial goals, Adventure Credit Union has the tools to help. Regan joined us to talk about how.
For well-established buyers, the new 3/1 adjustable rate mortgage (or ARM) may be a good fit.
- The 3/1 ARM is best for established home buyers because you need to have at least 20% of the purchase price as a down-payment and you need to have a good credit score.
- Borrowers that do qualify for the 3/1 ARM are rewarded with an interest rate significantly below the market average. This special low rate is guaranteed for the first three years of the mortgage. After that, the rate is adjusted (either up or down) once annually. That’s why it’s called an adjustable rate mortgage.
Adventure Credit Union is a local lender. We believe that every mortgage we write is enabling a person or a family to put down roots and make our community stronger. That’s way we make all of our lending decisions right here in Grand Rapids.
Adventure Credit Union is an Equal Housing Lender. NMLS: 408846.
Adventure Credit Union
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