Even when you have a good income and great credit, saving enough for the down payment on a home can be more than many can manage. If that situation sounds familiar, Spokane Federal and CUHMS (Credit Union Home Mortgage Solutions) have a loan that just might be the perfect fit – the Advantage Plus 5/5 ARM with 100% financing and no mortgage insurance requirement for first time home buyers.
An adjustable rate mortgage has a monthly payment that may change over the term of the loan. With the 5/5 Adjustable Rate Mortgage, your payment won't change for the first five years of the loan, and then no more than 2% every five-years thereafter with a cap of no more than 5% over the term of the loan.
Talk with one of our home loan experts to find out more about mortgage options from SFCU!
