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10/1 Adjustable Rate Mortgage will leave you jumping for joy!

Prospect Bank has local solutions. We offer a selection of loans with competitive rates for you:

 Adjustable Rate Mortgage as of 6/14/2022: 

10 year rate for a 30-year amortization is

5.375% Rate        5.536% APR*

 

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Want to talk with a Prospect Bank representative to learn more about all our mortgage options, complete form and we will be in contact promptly, or give us a call at 877.465.4154.

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Adjustable Rate Mortgage

Who is a 10/1 ARM for?


A 10/1 ARM is designed to fit the needs of our customer who intend to move to a new home within the next 10 years.

 

What is a 10/1 ARM?


A 10/1 ARM is an Adjustable Rate Mortgage where the initial rate is fixed for the first 10-years, then adjusts every year thereafter.  Our new product will typically allow for a lower interest rate when compared to a conventional 30-Year Fixed Rate Mortgage, thus allowing for a lower payment and interest savings over the first 10-years.

When should you apply?


During a rising interest rate environment. Our Mortgage Loan Professionals are dedicated to serving you throughout the process of finding the best possible mortgage to fit your unique needs.

Contact our Loan PRO’s to see if our 10/1 ARM is right for you.

Why should you apply?


Fixed Rates are on the rise!

A 10/1 Adjustable Rate Mortgage could help with saving more money over the 10-year period for the next home purchase in your life.

Let us help you achieve your financial goals locally with an Adjustable Rate Mortgage Loan.

**Limited time offer

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