Keep payments low and preserve your cash flow
Our 5/1 and 7/1 interest only adjustable-rate mortgages (ARM) offer one of the lowest mortgage payments to help you succeed in a challenging market. Available for both purchase and refinance, the CU SoCal interest only ARM funds up to $3 million for primary residence and $2.5 million for second homes.
Rates
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Adjustable-rate mortgages
Our Adjustable-rate mortgage (ARM) offers flexible terms, competitive rates, interest only options, and lower payments locked in for a set time period. In a tough market, an ARM can make the difference between getting a home and sitting on the sidelines.
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Assistance for first time buyers
We strive to make your first homebuying experience as easy as can be, with competitive rates, low down payments, and flexible terms to suit the specific needs of first-time homebuyers.
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Find your home online
Home Rewards is our free online home shopping platform that provides access to MLS listings and home valuations in just a few clicks. You’ll also get a commission rebate when you find your home using a Home Rewards realtor!2
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Refinancing options
Take advantage of the lowest rates available by refinancing your current mortgage. We offer various types of mortgage refinancing loans, so you can keep more in your account every month and save money over the life of your loan.
Learn MoreGet started on your mortgage journey today
CU SoCal provides an abundance of free educational resources for homebuyers. From seminars to more than 20 blog articles that focus on loan types, down payments, and pre-approvals, to how to save for a home, we have you covered. To learn about free home buying seminars in your community, please call CU SoCal Home Loans at 800.698.7196.
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1. ARM rates are based on the 1-year CMT plus a margin of 2.75%. Initial and periodic rate adjustment caps are 2% with a lifetime cap of 5%. All loans subject to CU SoCal’s customary due diligence, underwriting, credit approval and documentation. Maximum loan to value limits vary based on loan amount. Terms are subject to change without notice.
2. Rebate is awarded by Home Rewards Group, Inc. to buyers and sellers who select and use a real estate agent in the Home Rewards network. Rebate is 20% for purchase only of a residential property. Payment is credited to your benefit at the close of transaction. Using CU SoCal for a mortgage loan is not a requirement to earn the rebate. Purchase price must be greater than $150,000. All rebates are subject to limitations, lender guidelines, state laws and other requirements. Certain properties may not be eligible for rebates. Please consult a qualified tax professional for advice on tax implications from receiving a rebate. Home Rewards Group, Inc. is not affiliated with CU SoCal. Excludes commission owed to buyer’s agent.
Credit Union of Southern California NMLS #454788
The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s Web site (www.consumerfinance.gov/hmda).
Interest only adjustable-rate mortgage
| Product | Rate | Margin | Points | Caps | APR |
|---|---|---|---|---|---|
|
Product:
5yr / 1yr |
Rate:
6.00% |
Margin:
2.500% |
Points: 0 |
Caps:
2/2/6 |
APR:
6.049% |
|
Product:
7yr / 1yr |
Rate:
6.375% |
Margin:
2.500% |
Points: 0 |
Caps:
2/2/6 |
APR:
6.425% |
|
Product:
5yr / 5yr |
Rate:
6.125% |
Margin:
2.375% |
Points: 0 |
Caps:
2/2/5 |
APR:
6.174% |
Rates Effective as of: January 24, 2025
The rates, fees, and APRs listed are our best rates. The information provided assumes the purpose of the loan is to purchase a primary residence, single-family dwelling in California with a LTV below 60% or for a no-cashout refinance.. The rate-lock period is 45 days and the assumed credit score is 720. Your costs may be higher depending on credit history, underwriting criteria, and loan amount. The rates and terms above are subject to change without notice. The index for 5/1 ARM and 7/1 ARM loans is One-Year CMT. The index for 5/5 ARM loans is Five-Year CMT.
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