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      Generally offers lower initial rate than fixed rate products

    • Hand Holding Dollar Sign

      Lower initial monthly payments than fixed rate options

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      Adjustable rate mortgage with multiple repayment terms

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      After fixed rate period, rate may adjust annually

  • Home Financing Flexibility:

    An Adjustable Rate Mortgage from FNB can provide a flexible way to finance your new home or refinance your existing mortgage.1,2 Whether you are looking for the generally lower initial payment afforded by this type of mortgage or the flexibility for your rate to go down in a falling-rate environment, talk with our mortgage experts to see if this is the right option for you.

    How an Adjustable Rate Mortgage Works:

    An adjustable rate mortgage (ARM) is a mortgage in which the interest rate is fixed for a set period of time but then may change, or adjust, thereafter. The interest rate on these types of mortgages are often tied to an index. As this index rate changes, your mortgage rate may change as well. Unlike a fixed rate mortgage, homeowners with this type of home loan aren’t guaranteed the same interest rate for the duration of their loan.

    Key Features:

    • Adjustable rate mortgage with multiple repayment terms
    • After the fixed rate period, all of FNB adjustable rate mortgages can adjust every year.
    • These types of mortgages typically offer lower initial rates and monthly payments than fixed rate mortgages.

    Important Considerations:

    • After the fixed rate period, your interest rate can go up or down each year.
    • Your mortgage interest may be tax deductible.3

    Great For:

    • Home buyers who anticipate moving or refinancing before the expiration of the fixed rate period
    • Home buyers who expect their income to increase over time
    • Home buyers who anticipate rates may go down after their fixed rate period
  • Applying for an Adjustable Rate Mortgage:

    Whether you would like to get pre-qualified or begin the application process, we have convenient ways for you to get started. You can begin by adding this product to your bag. During the checkout process, you can select the option to get started online or set up a time to meet with one of our experts.

    Getting Prepared:

    It is helpful if you have the following documents with you during the application process:

    • Fully executed purchase agreement, if available
    • Most recent 30 days of pay stubs
    • Most recent two (2) months of bank statements
    • Prior two (2) years of your W2s
    • Prior two (2) years of tax returns
    • Current driver’s license or photo ID

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Notices & Disclosures

1 - FNB is an Equal Housing Lender; NMLS #766529.
2 - All loan products are subject to underwriting/credit approval.
3 - Interest may be deductible; check with your tax advisor.

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