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Many of SLFCU’s branch lobbies have re-opened for member service with additional safety precautions. Kirtland and Livermore East remain closed. Learn more. To read more about how COVID-19 is affecting SLFCU, click here.

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Couple moving in to a new home.

Adjustable Rate Mortgages (ARMs)

With these home loans, SLFCU combines a low rate with payment stability similar to our fixed rate mortgage.

  • Budgeting predictability – lock in rates and payments for 5- or 15-year periods
  • Low closing costs – for jumbo loans, too
  • No private mortgage insurance (PMI) required
  • Payments that fit your budget – terms up to 30 years and no points

5/5 ARM 

This mortgage is a smart choice for first-time home buyers and those who may move or refinance within five to seven years. Get the security of a rate and payment that adjust only once every five years.

  • Down payments as low as 3% (5% in California) for first-time home buyers
  • Rate caps for peace of mind – each adjustment is capped at 2%, and your rate will never increase more than 5% above your origination rate

15/15 ARM

This mortgage is perfect for growing families or near-retirees who expect to move within 15 years.

  • Down payments as low as 3% (5% in California) for first-time home buyers
  • Lower rates and closing costs than a fixed rate mortgage
  • Your rate will only adjust once during the life of the loan and is capped at 6% above your loan origination rate

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5/5 and 15/15 Mortgages

Adjustable rate mortgages. Rate adjusts every 5 or 15 years.


5/5 Mortgage
3.00% (1st 5 Years) / 3.724% APR

15/15 Mortgage
3.13% (1st 15 Years) / 3.29% APR