Adjustable-Rate Mortgage Loans
Enjoy lower payments for 5 full years.
CommonWealth One participates in the FHLBank Atlanta First-Time Homebuyer Program and it could mean up to $17,500 toward your down payment and closing costs. This grant funding available to qualified first-time homebuyers who are ready to put down roots — contact us today ot see if you're eligible.
Our ARMs can help lift you into your dream home
Everyone knows that nice houses come with a big price tag these days. But not everyone knows that an Adjustable-Rate Mortgage (ARM) can make that perfect place more affordable.
Caps on future rate increases
Repayment terms up to 30 years
Personal attention from our lending team
We call it a 5/5. Both those numbers work in your favor.
Here's how their ARMs work: You get a lower interest rate for a few years, and then the rate changes every year. Here's how our 5/5 ARMs work: Your low introductory interest rate last for a full five years, which helps reduce monthly payments and leaves more money for everything else in life. When the intro period ends, our ARMs can be adjusted only once every 5 years, providing longer-term financial stability and easier budgeting.
- Lower rate locked in for the first five years
- After that, the rate may be adjusted every five years
- Caps limit rate increases to 2% at any one time and 5% over the life of the loan
- Repayment terms up to 30 years
- Qualify for an ARM with a down payment as low as 5%
- No prepayment penalties
- Work one-on-one with an experienced Member Advantage Mortgage Consultant who can explain all the details
Who Should Consider an ARM?
Lower monthly payments are an attractive prospect. But before deciding on an ARM, it's good to look at the big picture. Those who benefit from these mortgages include:
- People who plan to sell their homes before the 5-year introductory rate period ends
- Families who expect their income and assets to increase in the relatively near future
- Homeowners who need extra cash after moving to buy furniture and appliances, pay for landscaping, or make extensive home improvements
Start your path to long-term security with an account that makes it easy to grow your money.
What's Your Journey?
The customer service at CommonWealth One has been exceptional, assisting me with my first car loan. I’ve had a positive experience with both my car and personal loans, enjoying quick service and competitive rates. I feel valued rather than just a customer.
Member since 2021
CommonWealth One Federal Credit Union is a full-service financial institution with branches in Northern Virginia, Harrisonburg, VA and Washington D.C.
First-Time Homebuyer is a product of the Federal Home Loan Bank of Atlanta. Household income restrictions and other requirements apply. Please see Federal Home Loan Bank of Atlanta's Affordable Housing Program Implementation Plan at www.fhlbatl.com for complete product requirements. Member Advantage Mortgage, LLC is an Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. This offer is available to properties located in the Commonwealth of Virginia, Maryland, and Washington, D.C. Member Advantage Mortgage LLC is licensed by the Virginia State Corporation Commission, Mortgage Lender License MC-5045, NMLS ID #1557 (www.nmlsconsumeraccess.org). Visit cofcu.org/MAM for complete terms and conditions. Member Advantage Mortgage LLC (MAM) is subsidiary of CUSO Development Company (CDC), which is owned and operated by credit unions for the benefit of credit unions and their members. CommonWealth One Federal Credit Union has an affiliated business arrangement with MAM and is an indirect, minority owner of MAM. Loans originated for CommonWealth One Federal Credit Union members benefit both MAM and CommonWealth One Federal Credit Union. Visit https://memberadvantagemortgage.com/about-us/ to view licensing information.
All applications are subject to credit and underwriting approval; not all applicants will qualify. This is not an offer for extension of credit nor a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. This offer is available to properties located in the Commonwealth of Virginia, Maryland, and Washington, D.C. only. Member Advantage Mortgage LLC is licensed by the Virginia State Corporation Commission, Mortgage Lender License MC-5045, NMLS ID #1557 (www.nmlsconsumeraccess.org). Visit cofcu.org for more Terms and Conditions. Equal Housing Lender. This notice provides that Member Advantage Mortgage, LLC has a business relationship with CommonWealth One Federal Credit Union. The nature of this relationship is Indirect Owner. Because of this relationship, this referral may provide Member Advantage Mortgage, LLC a financial or other benefit. CommonWealth One Federal Credit Union NMLS# 1557 complies with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). A list of our registered originators can be found by searching for CommonWealth One FCU at https://www.nmlsconsumeraccess.org/.
For ARM rate loan products, the information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $300,000, a down payment of $150,000 and an estimated property value of $500,000. The property is an existing single family home and is used as a primary residence. An escrow (impound) account is required. The rate lock period is 45 days and the assumed credit score is 750.