GCF's Adjustable Rate Mortgages (ARM's) carry an interest rate for a specified time period and then adjust to current interest rates on a yearly basis after the initial period with your monthly principal and interest payment adjusting accordingly. ARM interest rates are usually lower than a fixed rate mortgage. The interest rate is determined by adding a margin to a current index. An index is a measurement of the relative cost of funds at any given time. The initial monthly payment of an ARM are calculated the same way that the monthly payment of a fixed rate mortgage is calculated, however, the monthly payments are periodically adjusted.

3/1 ARM - This 30-year loan product offers a fixed rate for the first three (3) years of the loan and then becomes a 1-year adjustable rate mortgage for the remaining 27 years of the loan. Please review our program disclosure which explains the features of this adjustable rate mortgage program in detail.

5/1 ARM - This 30-year loan product offers a fixed rate for the first five (5) years of the loan and then becomes a 1-year adjustable rate mortgage for the remaining 25 years of the loan. Please review our program disclosure which explains the features of this adjustable rate mortgage program in detail.