Greater Flexibility. Low Monthly Payments.
With an Alliant adjustable rate mortgage, you’ll gain the advantage of a lower monthly payment during the beginning of your loan term. That’s an advantage when you’re faced with new home expenses, such as needed furniture and upgrades. There are many other benefits too:
- Available in
1/1 Year 3.875% Rate / 3.581% APR
3/1 Year 3.875% Rate / 3.635% APR
5/1 Year 4.000% Rate / 3.729% APR
7/1 Year 4.500% Rate / 4.028% APR
10/1 Year 4.875% Rate / 4.420% APR - You may be able to finance up to 90% of the purchase of a new home, condominium or townhome. Talk to one of our home loan specialists for more information 800-365-7003.
- 0 points
- Jumbo loans available, higher rates may apply
Alliant gives our members access to a full spectrum of mortgage products in all 50 states with these exceptional benefits:
- Up to 80% financing available on 1- and 3-year ARMs
- Up to 90% financing available on 5/7/10 year ARMs (not available on interest-only)
- No private mortgage insurance (PMI) up to 80% LTV or escrow on ARMs
- Buydown option available
- Low, fixed origination fee
- Convenient automatic payment options
- Option to lock-in at a guaranteed interest rate up to 60 days before closing
- 120-day rate lock-in available on new construction-end loan at no extra charge
- Second or vacation home loans available with financing up to 80%
Frequently Asked Questions
How do I choose between a fixed, adjustable rate (ARM) and interest only mortgage loan?
Each loan has specific advantages. For example, the fixed rate loan provides you with the safety and security of knowing your rate is locked in for the entire term of your loan, and that your monthly payment won’t change either. Whereas an ARM requires a smaller payment in the beginning of the loan so that you can take care of necessary expenses, like buying furniture for a new home. Interest-only loans require even smaller payments in the beginning, but then require a large balloon payment at the end of the loan. Talk to an Alliant loan specialist to help determine the loan that’s right for you.
I’m not sure how to choose. What should I do?
We understand. Buying a home is a big decision, so we’re here to help. An Alliant home loan specialist can help you review the terms, structure and benefits of each type of loan. That way, you can be sure that you and your family select the right home loan for you.
Should I be worried that my payment will go up dramatically after a certain time?
The monthly payment in your ARM loan may change after the specific amount of time, according to your loan structure. Be sure to talk with an Alliant home loan specialist to review the terms of your ARM and make sure you understand how your payment may change over time.
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