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Adjustable-Rate Mortgage

More Flexibility for What’s Next

Whether you’re purchasing a home or refinancing an existing mortgage, an Adjustable-Rate Mortgage (ARM) may offer an affordable financing option with lower initial payments and a fixed introductory rate period. Our local mortgage lenders can help you determine whether an ARM is the right fit for your financial goals.

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Home Adjustable-Rate Mortgage

Adjustable-Rate Mortgage

Find the Right Mortgage for Your Plans

An Adjustable-Rate Mortgage may be a good option if you expect to sell your home or refinance before the initial fixed-rate period ends.

Benefits of an Adjustable-Rate Mortgage:

  • Lower initial interest rate than many fixed-rate mortgage options.
  • Lower initial monthly payments.
  • Fixed interest rate and monthly principal and interest payment for the first 5 or 7 years.
  • May be a good option for borrowers who expect to sell their home or refinance before the first rate adjustment period.
  • Opportunity to benefit if interest rates decline after the initial fixed-rate period.
Our Disclosures
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Important Information about Adjustable-Rate Mortgages
During the initial fixed-rate period, your interest rate and monthly principal and interest payment will remain the same. After that period ends, your interest rate may adjust periodically based on market conditions. Future rate adjustments may result in higher monthly payments. All ARM programs are subject to periodic and lifetime rate caps. Mortgage loans are subject to credit approval. Property insurance is required. Rates, terms, and program availability are subject to change without notice.

Adjustable-Rate Mortgage Loan Details

Learn more about how we are ready to help you buy a home and meet your financial goals below.

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Local

With MSB, you get support from someone in your neighborhood. We do loan servicing and decision-making locally in Maine.

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Quick Response

We know that waiting is tough — especially for a home — so we act with a sense of urgency to get you the answers you need.

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Simple Application

We make buying a home more straightforward with a loan application you can fill out in minutes. Apply over the phone, in person, or online.

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Online and Mobile Banking

Wherever you are, you can use our website or mobile app to make loan payments or check your loan details.

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Auto Payments

Benefit from peace of mind, knowing your loan will get paid monthly, and you won’t have to log in or visit a local branch to pay.

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Easy Closing

Our simple closing process lets you make your financial dreams a reality sooner.

Customer Portal Access

Our secure customer portal allows you to apply for and manage your mortgage application from your computer or mobile device.

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Talk to a Mortgage Specialist

Get to know our residential mortgage specialists at your local branch. Feel free to reach out online, over the phone, or in-person to discuss home mortgages.

Meet Our Team and reach out if you are interested in applying for a home mortgage

Get Ready to Apply

What should I bring to apply for a adjustable-rate mortgage?
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Before you apply online or visit a local branch, gather these documents to speed up the application process:
  • Current driver's license or photo ID
  • Most recent two (2) months of bank statements
  • Prior two (2) years of your tax returns
  • Prior two (2) years of your W-2 forms
  • Most recent 30 days of pay stubs
  • Fully executed purchase agreement (if applicable)

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