Adjustable Rate Mortgages
A garrett Mortgage adjustable rate mortgage is perfect for purchasers with short-term mortgage goals. With low closing costs and no PMI requirement, our adjustable rate mortgage will finance up to 95% of the value of your home.
5/5 Adjustable Rate Mortgage
With a 5/5 Adjustable Rate Mortgage (ARM), your initial rate is fixed for five years and is subject to increase or decrease every five years thereafter. One rate change in the next 10 years guarantees a stable, reliable way to pay off your home loan.
Calculate Your Payment
Adjustable Mortgage Rates
| Type | Rate As Low As |
APR* As Low As |
$200k Ex. Payment |
|---|---|---|---|
| 5/5 | 6.625% | 7.188% | $1281 |
| 5/5 HomeSaver | 6.875% | 7.291% | $1314 |
*APR=Annual Percentage Rate. 30-Year Fixed 6.375% (6.554% APR) - up to 60% LTV. The interest rate is current as of October 23, 2024. Offer applies to borrowers with a credit score of 740 or better depending on credit qualifications. The payment on a $200,000, 30-year Fixed-Rate Loan at 6.375% (6.554% APR) is $1248. Property insurance and, if applicable, flood insurance is required. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some restrictions may apply. This rate is applicable for owner-occupied purchase or refinance (no cash out) of a single family dwelling. The stated rate may change or not be available at the time of loan commitment or lock-in.