Adjustable Rate Mortgage (ARM)

Lower Initial Interest Rate. Increased Flexibility.

Adjust Payments as Your Financial Situation Changes

An adjustable-rate mortgage has an interest rate that can change. ARMs usually feature a low, fixed interest rate during an introductory period.

Our 7/1 Adjustable-Rate Mortgage (ARM) combines a lower initial fixed rate with features that can help make homeownership more accessible. Qualified borrowers can take advantage of no PMI, 0% down payment options, and financing up to 100% of the home's value.

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Why Choose a Cobalt 7/1 ARM?

Key Benefits

✔️ No PMI*
✔️ 0% down payment available*
✔️ Up to 100% financing*
✔️ Fixed rate for the first 7 years
✔️ Lower initial rate than many fixed-rate options
✔️ Ideal for buyers seeking flexibility

A 7/1 ARM May Be Right for You If:

✔️ You expect your income to increase over time
✔️ You plan to move or refinance within the next several years
✔️ You want a lower initial monthly payment
✔️ You expect interest rates to decrease in the future
✔️ You expect income growth for future payment adjustments
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*Up to 100% loan-to-value (LTV) available for purchase and rate-and-term refinance. Property must be a primary residence. Loan amounts from $50,000 to $500,000. Minimum credit score of 700 required. Minimum of three established tradelines (open or closed accounts). Maximum debt-to-income ratio of 45%. Two months of PITIA (principal, interest, taxes, insurance, and assessments) required; gift funds can be used to meet this requirement. The property must be located in Nebraska or Iowa and within Cobalt Credit Union’s lending area.
Additional conditions and exclusions may apply. All programs, rates, and terms are subject to credit approval and may change without notice. Certain underwriting requirements must be met. Closing costs, buyer costs, and escrow fees may apply. For full details, contact Cobalt Credit Union at (800) 228-0392.