Adjustable-Rate Mortgages (ARMs)

Are you looking for an adjustable-rate mortgage in Central or North Central PA? As a longtime community bank serving the people of Juniata, Huntingdon, McKean, Mifflin, Perry, Centre, and Potter counties, JVB offers local expertise in the mortgage application and home buying process. All of our lending decisions are made locally, giving us greater flexibility to help you find the right mortgage loan for your needs.

What is an Adjustable-Rate Mortgage?

JVB offers adjustable-rate mortgages, also known as ARM loans, as part of our overall menu of Mortgage and Home Equity Loan options.  

With an ARM loan, you get an introductory period of 5 or 7 years to enjoy a fixed annual percentage rate and monthly mortgage payment. After that, your rate will adjust up or down annually.

ARM Loan Benefits

  • Lower initial rate and payment: Adjustable-rate mortgages almost always offer a lower annual percentage rate than fixed-rate home loans, at least initially. That also means a lower monthly mortgage payment.
  • Potential for the rate to adjust down: Once your fixed-rate period ends, your interest rate will be tied to a market index.
  • Available with Government-Backed Loans: If you’re considering the FHA program, you can choose an adjustable-rate FHA loan

When to Choose an Adjustable-Rate Mortgage

The lenders at JVB can help you weigh the pros and cons of each loan type against your current financial situation and needs. Keep in mind that you can obtain an adjustable-rate on different types of mortgages, such as a jumbo loan. When it comes to ARM loans, your top considerations should be: 

  • Does the ARM loan offer a lower introductory rate than the fixed-rate mortgage option? If so, it may be worth it to take the savings in the beginning and then take your chances that the rate will adjust down instead of up.
  • How long do you plan to stay in your new home? Even if you plan to keep your home long-term, you can always refinance your ARM loan at the end of the introductory period.

Bank Right at JVB

From 1867, when JVB opened its first location, to the present day with 15 community offices in Blairs Mills, McAlisterville, Mifflintown, Port Royal, Richfield, Port Allegany, Lillibridge, Burnham, Reedsville, Lewistown, Millerstown, Coudersport, Liverpool, or our loan office in State College, our priority has always been to provide the best financial services for our customers. Whether you are looking for a mortgage or any of our other personal and business lending products, you can expect the highest levels of integrity and respect from our team of lenders and branch employees. 

Contact us to learn more about ARM Loans!

Is an Adjustable-Rate Mortgage the best option for your home purchase or mortgage refinance? Our Pennsylvania-based loan officers can help you determine your eligibility and explore your home loan options. JVB is a trusted local mortgage lender with a long history in your Central PA or Northern Tier community.  

Whether in person or online, the mortgage team at JVB is ready to answer your questions about ARM loans and the application process. Call the JVB Customer Care Center to be connected to one of our experienced home loan lenders at 1-855-582-5101, visit a JVB community office near you, or apply online today. We look forward to hearing from you!

 

Adjustable-Rate Mortgage FAQs

  1. How does an ARM loan work?

  2. Is a fixed-rate mortgage better than variable?

  3. How are adjustable-rate mortgages calculated?

APPLY ONLINE