Lock in a low fixed rate for either five or seven years.
When you’re looking to lock in a low, fixed rate for the first few years, MECU’s 5/1 and 7/1 ARMs are competitive products that offer great options. - No pre-payment penalties
- No escrow so you can earn dividends on your savings
- Finance up to $1,000,000
- Easy repayment with automatic transfers from checking or savings
- Adjustable rate jumbo loans available
- Competitive interest rates to help you save money
- Online access to your accounts
How does it work?
5/1 ARM--first adjustment, based on index could go 2% up or down (never below 2.75% margin); can only move up or down 2% in subsequent years; 6% up or 6% down cap (never below 2.75% margin) during life of loan. 7/1 ARM--first adjustment, based on index could go 5% up or down (never below 2.75% margin); can only move up or down 2% in subsequent years; 5% up or 5% down cap (never below 2.75% margin) during life of loan. 
For more information on choosing the mortgage that is right for you, call us at 1-847-576-5199, toll-free at 1-877-270-6392, or by clicking here.
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 List of all MECU fees
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