Fixed Rate Loans offer the piece of mind of having a consistent mortgage interest rate for the entire term of your loan. UHFCU offers fixed rate loans for 15, 20, and 30 years.

UHFCU’s Adjustable Rate Loans or ARM Loans are typically 30 year mortgages that offer lower rates than the Fixed Rate Loan options. An ARM loan is fixed for an initial period of time, then can adjust at set intervals throughout the remaining term of the loan.

For example, our 5/1 ARM loan program is fixed at an initial interest rate for the first 5 years. On year 6, the interest rate could adjust up or down based on the current market conditions. Once the rate adjusts, it will be fixed at that adjusted rate until the next year (year 7). In year 7, the interest rate could once again be adjusted based on the current market con-ditions. This annual adjustment would continue until the loan is paid off.

UHFCU also offers a 5/5 ARM loan program which has an interest rate that is fixed in five year increments. The interest rate can adjust up or down every 5 years based on the current market conditions. This is a great option for those who are looking to sell or refinance in the next 5-10 years or for those who are looking to take advantage of a lower interest rate.

Another option, is our 15/15 ARM loan program which is fixed at the initial interest rate for the first 15 years. On year 16, the interest rate could adjust up or down based on the current market conditions. Once the rate adjusts, it will be fixed at that new adjusted rate for the remaining 15 years. This is one of our most popular loan programs as it offers the borrower the benefit of a lower interest rate combined with the security of a long-term fixed option.