Federally insured by NCUA. Applicant must meet membership and account qualifications. See www.traviscu.org/disclosures for complete details.
Rates as of 12/20/2024, 10:00 AM PT
Please note that rates and fees are subject to change without notice.
Adjustable Rate Mortgage (ARM) Disclosures
APR = Annual Percentage Rate. Rates are variable and effective as of current market conditions of 12/20/2024. The APR may increase after the original fixed-rate period. All loans are subject to approval. APR assumes a $300,000 loan amount with a credit score of 760 or higher for a purchase of an owner- occupied (primary residence), single-family dwelling in California with a loan-to-value ratio of 60% or less, on a 30-day rate lock pricing.
5/6 Adjustable Rate Mortgage (ARM) 30-Year
Based on current market conditions, monthly principal & interest payment would be $1,656.61 at a fixed initial interest rate of 5.250% (7.061% APR) for months 1-60, $1,998.19 for months 61-66, $2,154.58 for months 67-359, and $2,152.46 for month 360. Initial interest rate of 5.250% requires 0.644% discount points or $1,932.00. The adjusted payment example for months 61-360 is based on a fully capped interest rate of 8.125% (7.061% APR). The actual payment may be lower depending on the fully-indexed rate at the change date. The interest rate, APR, and payment can change after consummation and will be based on the current index value of the 30-day Average Secured Overnight Financing Rate (SOFR) plus a margin of 2.750%, rounded up to the nearest 0.125%, starting on the first change date on the 61st month, and subsequently every 6 months thereafter. The interest rate cannot increase or decrease more than 2.000% on the first change date, 1.000% at any subsequent change date thereafter. The interest rate cannot increase more than 5.000% over the life of the loan and cannot decrease below the margin.
7/6 Adjustable Rate Mortgage (ARM) 30-Year
Based on current market conditions, monthly principal & interest payment would be $1,726.97 at a fixed initial interest rate of 5.625% (6.885% APR) for months 1-84, $2,054.77 for months 85-90, $2,139.56 for months 91-359, and $2,141.86 for month 360. Initial interest rate of 5.625% requires 0.091% discount points or $273.00. The adjusted payment example for months 85-360 is based on a fully capped interest rate of 8.125% (6.885% APR). The actual payment may be lower depending on the fully-indexed rate at the change date. The interest rate, APR, and payment can change after consummation and will be based on the current index value of the 30-day Average Secured Overnight Financing Overnight Rate (SOFR) plus a margin of 2.750%, rounded up to the nearest 0.125%, starting on the first change date on the 85th month, and subsequently every 6 months thereafter. The interest rate cannot increase or decrease more than 2.000% on the first change date, 1.000% at any subsequent change date thereafter. The interest rate cannot increase more than 5.000% over the life of the loan and cannot decrease below the margin.
10/6 Adjustable Rate Mortgage (ARM) 30-Year
Based on current market conditions, monthly principal & interest payment would be $1,750.72 at a fixed initial interest rate of 5.750% (6.655% APR) for months 1-120, $2,047.12 for months 121-126, $2,104.17 for months 127-359, and $2,106.22 for month 360. Initial interest rate of 5.750% requires 0.441% discount points or $1,323.00. The adjusted payment example for months 121-360 is based on a fully capped interest rate of 8.125% (6.655% APR). The actual payment may be lower depending on the fully-indexed rate at the change date. The interest rate, APR, and payment can change after consummation and will be based on the current index value of the 30-day Average Secured Overnight Financing Rate (SOFR) plus a margin of 2.750%, rounded up to the nearest 0.125%, starting on the first change date on the 121st month, and subsequently every 6 months thereafter. The interest rate cannot increase or decrease more than 2.000% on the first change date, 1.000% at any subsequent change date thereafter. The interest rate cannot increase more than 5.000% over the life of the loan and cannot decrease below the margin.
15/15 Adjustable Rate Mortgage (ARM) 30-Year
Based on current market conditions, monthly principal & interest payment would be $1,842.28 at a fixed initial interest rate of 6.225% (5.762% APR) for months 1-180, $1,486.15 for months 181-359, and $1,486.61 for month 360. Initial interest rate of 6.225% requires 0.182% discount points or $546.00. The adjusted payment example for months 181-360 is based on a fully capped interest rate of 3.000% (5.762% APR). The actual payment may be lower depending on the fully-indexed rate at the change date. The interest rate, APR, and payment can change after consummation and will be based on the current index value of the weekly 10-year U.S. Treasury Average, plus a margin of 1.310%, rounded up to the nearest 0.125%, starting on the change date on the 181st month. The interest rate cannot increase more than 6.000% over the life of the loan and cannot decrease below the 3.000% floor rate.
Additional Disclosure for all ARM Products
Payment example(s) does not include taxes and insurance. Property insurance required. If an impound account for taxes and insurance is desired, you are responsible for those set-up amounts and any charges assessed by your current lender such as reconveyance fees, payoff demand fees, prepayment penalties and any interim interest collected at closing. Your rate may vary based on your creditworthiness, loan amount, purpose, LTV, lock period, and other credit characteristics. All rates and terms are subject to change without notice. Hazard and flood insurance may be required depending on the subject property and location. Other restrictions may apply. No rate is guaranteed without a valid rate lock. A point is equal to 1% of the loan amount’s balance. Private mortgage insurance (PMI) is required on mortgages that exceed 80% loan-to-value (LTV). Rate and payment examples are not a commitment to lend. Contact a Travis Credit Union Mortgage Loan Officer for further details. Other terms and conditions may apply.
Equal Housing Opportunity, NMLS #643926.