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We Believe in Low-cost, Low-rate Mortgage Loans

Here at Union Savings Bank, we stand for an American dream: owning a home. We believe that everyone, including you, deserves their own space, their own place, and their own patch of green grass. That’s why we’ve spent over one hundred years making home ownership possible without stress and extra fees.

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Why Consider an Adjustable-Rate Mortgage Loan?

With interest rates on the rise again, an Adjustable-Rate Mortgage (ARM) loan can allow you to lock in a lower rate now to avoid rate increases in the future. With a 5/1 ARM loan, you are locked in at a fixed rate for the first five years; after that, your rate can fluctuate 2% or less each year for the remainder of the loan term. At that time, you have the option to refinance.

To Illustrate This, Let’s Consider a Fixed-Rate Loan and a 5/1 ARM Loan on a $200,000 Mortgage:

The 30-year fixed-rate is 6% as of mid-June, while the 5-year ARM rate is 4%. The payment difference is $244 per month.** Over the five-year length of the ARM, that’s a difference of $14,640 that could’ve been used to pay down the mortgage with the ARM compared to the 30-year fixed, or allocated to a savings account or other debt to give you a better overall financial picture.

Current 5/1 ARM Loan Rates Are 3.50%/5.124% APR

Fill out the form above to get in contact with one of our loan officers who can walk you through the process now and moving forward as both the market and your needs change.



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If you are an existing USB customer and have a question about your loan, please call 800-582-9702 for assistance.

*Plus Recording Fee. Additional restrictions may apply. LTV and credit score may require additional fees.

**Rate, APR and Payment details at a 3.50% initial interest rate, the Annual Percentage Rate (APR) for this loan type is 5.124%. The monthly payment schedule based on current market conditions is listed below. Your actual payments will be based on market conditions at the time of interest rate changes per the terms of your loan agreement. The interest rate may increase.

Example payment schedule including: Number of Payments, Total Payment, and Interest Rate.

**These payments are based on a $200,000 loan amount with a Loan-to-Value of 78.00%. Loan approval is subject to credit approval and program guidelines. After the fixed rate period, rate adjustment will be based on the 1-year Treasury Constant Maturity Index plus a Margin of 3.75%. Interest rate and program terms are subject to change without notice. Property, Loan Type, LTV, Subordinate Financing and Credit Scores may require additional fees. Certain restrictions apply. Payments do not include amounts for taxes and insurance. If included, the actual payment will be greater.
Rates are subject to change. Rates effective as of 6/23/2022.