Our 5/5 ARM is an Adjustable Rate Mortgage that allows you to lock in your low rate every 5 years. Plus, the potential rate increase is capped at 2%!

How does it work?

iTHINK Financial’s 5/5 ARM is an Adjustable Rate Mortgage, and like other ARMs it offers an initial low fixed-rate (lower than a 30-year fixed-rate mortgage) followed by an adjustable-rate phase for the remainder of the loan.

However, unlike the typical 5/1 ARM that can adjust its rate annually after the initial 5-year fixed-rate period, our 5/5 ARM’s Annual Percentage Rate can only adjust every 5 years for the life of the loan!

Plus, each rate adjustment is capped at 2% above your previous rate and the maximum rate increase over the life of the loan is capped at 6% above your initial rate!* Even if the worst case scenario occurred and rates dramatically increased, it would take 15 years for your 5/5 ARM to reach the maximum rate. In comparison, the 5/1 ARM could reach its maximum rate in just 7 years.

In addition to low initial rates and peace of mind knowing that your rate won’t skyrocket in a few years, our 5/5 ARM is also offered with extremely low closing costs! Your closing costs are limited to appraisal, escrows, insurance, real estate taxes, and mortgage and deed taxes. There are no closing costs coming from the Credit Union! This can be a savings of over $3,200 at closing!*



Key Benefits

  • Initial rate lower than fixed rate mortgages
  • Rate can only adjust every 5 years
  • Each 5-year rate adjustment capped at 2% above previous rate
  • Maximum rate increase of 6% above initial rate over the life of the loan
  • Maximum loan amount of $500,000
  • Extremely low closing costs


Is a 5/5 ARM for me?

A 5/5 ARM is a good option if you:

  • Want a lower rate for the first 5 years with the security of rate adjustments only every 5 years
  • Want lower payments during the first 5 years than you would get with a fixed rate mortgage
  • Believe that your income will increase within 5 years
  • Do not plan on staying in your home for a very long time
  • Do not have the extra savings to pay closing costs


Apply Today!

Our 5/5 ARM is a great option for saving money on your new home or refinancing your current home! Apply online for a 5/5 ARM today or Contact Us – Via email at mortgage@ithinkfi.org, 800.873.5100, ext. 7722 or Visit – Stop by your nearest branch to apply in person.

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*First Mortgage must be funded and serviced by iTHINK Financial. Credit subject to approval, income and identification verification. 2% periodic cap every five years; 6% lifetime change cap. Contact a Mortgage Advisor for more information on the rates, terms, fees and conditions that may apply. The $3,200 savings is for a $150,000 loan to purchase a $200,000 home in Florida using the 5/5 ARM loan as compared to a conventional fixed rate mortgage.