Mortgages Rates SLASHED !!!

Adjustable Rate Mortgages (ARMs)

Adjustable Rate Mortgages are available as 1/1 ARMs, 3/1 ARMs, 5/1 ARMs, or 7/1 ARMs. Minimum loan amount of $35,000 and maximum loan amount of $750,000, with financing up to 80%. Thirty-year term for primary residences and fifteen-year term for second homes.

Mortgage rates as low as;

Term Starter Rate
1/1 ARM 2.00% APR
1/1 Jumbo ARM 2.50% APR
3/1 ARM 2.25% APR
3/1 Jumbo ARM 2.75% APR
5/1 ARM 2.50% APR
5/1 Jumbo ARM 3.00% APR
7/1 ARM 4.95% APR
7/1 Jumbo ARM 5.45% APR
As of 11/14/2013

*Rates and terms are subject to change. Please verify current fees and rates.

1/1 ARM

  • Interest rate fixed for first year
  • Lifetime cap is your starter rate + 6%
  • Annual cap of 2%
  • Check rate chart for current starter rate
  • Contact Lending Services Department for mortgage terms and pre-qualification at (212) 869-8926 (option 4)
  • ActorsFCU Savings (Share) Account required

Annual rate adjustment:
Regular ARM: lower of either ActorsFCU’s 2% annual cap or by adding our margin of 2.5% to the one-year CMT (Constant Maturity Treasury)

Jumbo ARM: lower of either ActorsFCU’s 2% annual cap or by adding our margin of 2.75% to the one-year CMT (Constant Maturity Treasury)

3/1 ARM

  • Interest rate fixed for first three years
  • Lifetime cap is your starter rate + 6%
  • 3% cap on first annual adjustment; thereafter, 2% cap per year
  • Check rate chart for current starter rate
  • Contact Lending Services Department for mortgage terms and pre-qualification at (212) 869-8926 (option 4)
  • ActorsFCU Savings (Share) Account required

Annual rate adjustment:
Regular ARM: lower of either ActorsFCU’s 2% annual cap or by adding our margin of 2.5% to the one-year CMT (Constant Maturity Treasury)

Jumbo ARM: lower of either ActorsFCU’s 2% annual cap or by adding our margin of 2.75% to the one-year CMT (Constant Maturity Treasury)

5/1 ARM

  • Interest rate fixed for first five years
  • Lifetime cap is your starter rate + 6%
  • 3% cap on first annual adjustment; thereafter, 2% cap per year
  • Check rate chart for current starter rate
  • Contact Lending Services Department for mortgage terms and pre-qualification at (212) 869-8926 (option 4)
  • ActorsFCU Savings (Share) Account required

Annual rate adjustment:
Regular ARM: lower of either ActorsFCU’s 2% annual cap or by adding our margin of 2.5% to the one-year CMT (Constant Maturity Treasury)

Jumbo ARM: lower of either ActorsFCU’s 2% annual cap or by adding our margin of 2.75% to the one-year CMT (Constant Maturity Treasury)

7/1 ARM

  • Interest rate fixed for first seven years
  • Lifetime cap is your starter rate + 6%
  • 3% cap on first annual adjustment; thereafter, 2% cap per year
  • Check rate chart for current starter rate
  • When beginning the Mortgage Application Process, contact Lending Services Department for mortgage terms and pre-qualification at 212.869.8926 (option 4)
  • For submission of mortgage applications and supporting documents please use: bmundy@actorsfcu.com
  • ActorsFCU Savings (Share) Account required

Annual rate adjustment:
Regular ARM: lower of either ActorsFCU’s 2% annual cap or by adding our margin of 2.5% to the one-year CMT (Constant Maturity Treasury)

Jumbo ARM: lower of either ActorsFCU’s 2% annual cap or by adding our margin of 2.75% to the one-year CMT (Constant Maturity Treasury)

Click here for FAQs

Settlement Costs Booklet
Consumer Handbook on ARM Mortgages

Home Equity Line of Credit

Term Rate (APR)
Adjustable based on the Prime Rate
As of 2/11/2014

Terms:

  • Minimum credit line of $10,000 and maximum of $250,000
  • Twenty-year term with five-year draw and fifteen-year payback
  • Adjustable based on prime
  • 75% LTV on houses, condos, and co-ops
  • Lifetime rate cap of 18%
  • ActorsFCU Savings (Share) Account is required

Rates subject to change without notice.

Home Equity Line of Credit Terms & Applications are given by contacting the Lending Services Department at 212.869.8926, option 4.

Click here for FAQs