Adjustable Rate Mortgages
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Product Rate APR Points Monthly Payment
5/1 ARM Variable 2.990% 3.713% 0 $1,263.19
Jumbo 5/1 ARM Variable 3.125% 3.741% 0 $2,141.88
7/1 ARM Variable 3.250% 3.721% 0 $1,305.62
Jumbo 7/1 ARM Variable 3.375% 3.760% 0 $2,210.48
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Chart is for illustrative purposes only and assumes a borrower with very good credit. Rates and APRs are subject to change without notice. Subject to credit approval. Click here for Loan assumptions and disclosures for 5/1 and 7/1 ARMs. Click here for Loan assumptions and disclosures for 5/1 and 7/1 Jumbo ARMs.

Adjustable rate mortgages (ARMs) may be a good choice if you:

  • Plan to move before the end of the introductory fixed rate period so you aren’t concerned about possible rate increases. 
  • Want an initial monthly payment lower than a fixed rate mortgage usually offers 
  • Think interest rates may go down in the future.

Monthly payments that may change periodically

Adjustable rate mortgages (ARMs) have an interest rate that may change periodically depending on changes in a corresponding financial index that is associated with the loan. Your monthly payment will increase or decrease if the index rate goes up or down.

ARM loans are usually named by the length of time the interest rate remains fixed and how often the interest rate is subject to adjustment thereafter. For example, in a 5/1 ARM, the 5 stands for an initial 5 year period during which the interest rate remains fixed while the 1 shows that the interest rate is subject to adjust once per year thereafter. 

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A HarborOne Representative will call you within 24 hours to discuss which product best fits you. If you’re ready to submit an application the representative can assist you with that as well.

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Questions?

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