5/5 Adjustable-Rate Mortgage The 5/5 Adjustable-Rate Mortgage (ARM) loan from RBFCU locks in your interest rate and payment for the first 5 years of your loan. After the initial term has lapsed, your interest rate and payment are subject to change (up or down) every five years for the remaining loan term. Refinance if rates decrease or sell at at any time. With a minimum deposit of 5% and a preliminary low-interest rate, the 5/5 ARM uses a fresh perspective on home funding. To speak to the Mortgage Department, call 210-945-3300, select option 3, then choice 2. Apply Now Continue Your Saved Application or Check Status Low closing expenses By getting rid of a few of the upfront expenses, RBFCU assists you turn your dream into reality. Qualifying loan types consist of: Conventional fixed-rate, 100% Financing, Jumbo, Construction and 5/5 adjustable-rate. In addition, members have the option to acquire discount points to lower their rate. Let us stroll you through the home loan process 1. Get prepared Buying a home is a big commitment and you'll desire your financial resources to be in great condition before you begin the procedure to make sure the very best possible outcome. Gather your financial information, like current income tax return, financial statements and pay stubs; your loan application will let you know what monetary information is required. You should also review your credit rating, have a look at your debt-to-income ratio (DTI) and take other essential steps to place yourself for getting the very best possible loan terms. Click the button below to read our document on "Maintaining Your Financial Status and Credit Score" for pointers to help guide you through the process. Maintaining your financial status 2. Decide what you can afford Before you begin purchasing a home, have a look at your budget and existing costs to determine what you can afford.