Fixed Rate and Adjustable Mortgages


Adjustable Rate Mortgages

Calculate payments, explore products, and check today's rates

Central One offers you the option to lock in your rate for up to 120 days on our Adjustable Rate Mortgages at no cost to you.  You'll get the lowest published rate from the date you apply up to 7 days prior to closing (not to exceed 120 days).  If rates decrease at all prior to closing, you receive the lower rate.

Don’t get caught paying a higher rate with other lenders, apply today.

Our adjustable rate mortgages offer you low initial rates to fit your situation - whether a first time home buyer or looking to stay in your home for less than 10 years.    ARM's lock in a fixed rate and then adjust based on the term you choose.  Our popular 10/5 ARM gives you the comfort of a fixed rate for 10 years and then adjusts once every 5 years. 

To limit your risk of rate fluctuation, Central One caps the interest rate change to 2% (up or down) at every review period and 5% (up or down) over the life of the mortgage. 


Current ARM Rates - including Jumbo Rates*

Expand Rates

Best for: 

  • First time home buyers
  • Those planning to live in their new home for 10 years or less
  • Those wanting a lower down payment and lower closing costs

Benefits of a 10/5 ARM

  • As little as 3% down for qualified applicants
  • Reduced closing costs compared to a fixed rate mortgage
  • Often an APR much lower than a 30 year fixed rate mortgage
  • No prepayment penalties
  • Rate reduction for setting up automatic payments from your Central One checking account
  • Terms of up to 30 years
  • Servicing from Central One for the life of the loan

Suggested Calculators


Want to reduce the upfront cost of your home purchase?

  • Shop with one of these local realtors and save $500 on your closing costs!***
  • If you live in certain counties, Central One will cover a portion of your closing costs if you put a "Financed by Central One" sign in your yard. Ask a lending representative for more information.
  • First time home buyers can plan ahead with the Future Focus Home Savings Plan and receive 1% of the loan value back as a credit towards closing costs. Click for details!

     

    Apply Now 

    or

    call a Mortgage Specialist at 800-527-1017

Fixed Rate Mortgages

Calculate payments, explore products, and check today's rates

Are you looking for your forever home? Do you want peace of mind knowing that your mortgage rate will stay fixed for the life of the loan? Then a fixed rate mortgage is right for you!  Take advantage of our 60 day no fee rate lock at the time of your application.   Loan must close and be disbursed within 60 days.

Current Fixed Rates (Jumbo Rates* Available - primary residence purchases only)

Expand Rates

Best for: 

  • Forever homes
  • Those planning to live in their home for 10 years or more

Benefits of a Fixed Rate Mortgage

  • Peace of mind knowing your rate will never go up
  • As little as 5% down for qualified applicants
  • No prepayment penalties
  • Terms of up to 30 years
  • Servicing from Central One for the life of the loan

Suggested Calculators

Want to reduce the upfront cost of your home purchase?

  • Shop with one of these local realtors and save $500 on your closing costs!***
  • Open a Central Advantage checking account to be eligible for reduced rates.
  • If you live in certain counties, Central One will cover a portion of your closing costs if you put a "Financed by Central One" sign in your yard. Ask a lending representative for more information.
 

Apply Now 

or

call a Mortgage Specialist at 800-527-1017

Jumbo Mortgages

Finance Jumbo Mortgages with great rates and terms!

Needing a larger loan? Central One has great Adjustable Rate and FIxed Rate options available to you. 

 

Benefits of Choosing Central One

  • Local Underwriting and Processing
  • No prepayment penalties
  • Terms of up to 30 years
  • Servicing from Central One for the life of the loan

Suggested Calculators

Want to reduce the upfront cost of your home purchase?

  • Shop with one of these local realtors and save $500 on your closing costs!***
  • Open a Central Advantage checking account to be eligible for reduced rates.
  • If you live in certain counties, Central One will cover a portion of your closing costs if you put a "Financed by Central One" sign in your yard. Ask a lending representative for more information.

Apply Now 

or

call a Mortgage Specialist at 800-527-1017

* Requirements for benefits that include jumbo fixed rates and mortgage rate reduction: Must have a Central Advantage account .  In addition to maintaining all other membership and Central Advantage account requirements , mortgage must be on primary residence purchase only.  All loan programs, rates, terms and conditions are subject to change. Loan approval and actual rate will be determined based on credit history, term, loan to value, and other factors.  Please contact a lending specialist at 800-527-1017 for additional information. 

**No Closing Cost program has a minimum loan amount of $125,000. Available on owner-occupied homes only. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. mortgages

*** $500 savings for using one of the local realtors may not be combined with our no-closing-cost program or other Central One Federal Credit Union programs.