An Adjustable Rate MortGage Is About Flexibility
The lower the mortgage rate, the more home you can afford. An adjustable rate mortgage, or ARM, makes that possible by starting out lower than a fixed rate and then adjusting over time.

An ARM is a particularly attractive option when you expect changes in your financial situation over the next five years. Better yet, as a member, you receive a credit up to $500 toward your home appraisal when you purchase your home with Desert Schools.* Apply now, visit a branch, or call 602-433-HOME (4663), and let us help make your dream home a reality.

Start Out with a Lower Rate

  • Low fixed rate for the first five years
  • Rates as low as 3.812% APR**
  • No prepayment penalties
  • Free appraisal up to $500 when purchasing your home*

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*Free appraisal on real estate purchase transactions (up to $500) for mortgage loans serviced by Desert Schools. Additional restrictions may apply and subject to credit approval. If an application is declined by Desert Schools, Desert Schools will cover related appraisal costs up to $500. If the appraisal cost exceeds $500, the difference will be the responsibility of the applicant. Offer expires December 31, 2016.

**Annual Percentage Rates (APR) shown are effective May 26, 2017 and may change without notice. Based on a loan amount of $200,000 as of May 26, 2017, 25% down payment, estimated finance charges $2,150.85, and a 30 day rate lock. The loan has a 30 year maturity and APR may increase after consummation. After the initial fixed rate period (one year in our example), the interest rate may vary or increase every 12 months according to the market index. The index in the future is unknown; the first adjusted payment is based on the current index plus the margin (fully indexed rate) at the time of this disclosure. At adjustment, the new mortgage rate will be the average of the Interbank offered rates for one-year, U.S. dollar-denominated deposits in the London market (LIBOR) as published in the Wall Street Journal, plus a margin of 2.25% subject to annual and lifetime adjustment caps and rounded to the nearest 1/8 of a percent. Monthly loan payments include principal and interest. The monthly payments do not include mortgage insurance, property taxes and homeowner's insurance. Therefore, the actual payment obligation may be higher. All loans are subject to credit and property approval. Rates, terms, fees and programs are subject to change without notice. This is not a commitment to lend. NMLSR ID #509455.

Desert Schools Federal Credit Union NMLS ID #509455