I don't like the idea of my monthly Adjustable Mortgage payments possibly increasing in the future. Is this my best option?

That’s a valid concern. The ARM is designed for members with short-term goals or those who are confident that rates will decrease in the future, at which time they can refinance at the lower rate. I’m concerned that I might lose my home as my payments get too high. Your concern regarding the affordability of this loan is a valid one, that’s why we limit your potential rate increase to no more than 2% a year and offer a variety of fixed rate periods. This product also has a conversion option, which means for $500, member can convert to the current market rate at the time of the adjustment.

• Will the payment amount of my Fixed Rate First Mortgage change?
• Does a Home Line of Credit make it more complicated to sell my house later on?
• Is a Fixed Rate Second Mortgage expensive?
• What happens to my Fixed Rate First Mortgage if mortgage rates drop?
• Is a Home Line of Credit expensive?
• Does a Fixed Rate Second Mortgage make it more complicated to sell my house later on?
• What if the prime rate increases?
• How long to I have to pay MIP on my FHA Mortgage?
• Will my FHA Mortgage payment amount change?
• What restrictions do I have on how I use the money from my Fixed Rate Second Mortgage?
• Why do I have to pay MIP on my FHA Mortgage?
• Should I commit myself to making another mortgage payment?
• What restrictions do I have on how I use the money in my Home Line of Credit?