Adjustable-Rate Mortgage (ARM) loans have interest rates that change during the life of the loan. ENB offers ARMs with an initial interest rate that’s fixed for a period of 3, 5, or 7 years. After the fixed-rate period expires, the interest rate adjusts annually. For example – our 5/1 ARM will have a fixed rate for the first 5 years. It will then adjust annually for the remaining 25 years of the mortgage. This is a great option for borrowers planning to stay in their home less than the fixed-rate period as that rate is typically lower than a fixed-rate mortgage.
- 3/1, 5/1, and 7/1 options available
- Down payment options as low as 5%
- Local underwriting on select products
Conforming Mortgage Rates
Type
Rate
Term
Points
Monthly Payment / $10,000*
APR1 (based on $200,000, 20% down)
Minimum Down
Time Initial Rate is Fixed
Adjustment After Initial Period
First Adjusted Interest Rate
Max Lifetime Cap
Type: 30 Yr. Fixed Rate
Rate: 3.000%
Term: 30 Yr.
Points: 3.000%
Monthly Payment / $10,000*: $42.16
APR1 (based on $200,000, 20% down): 3.284%
Minimum Down: 5%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 30 Yr. Fixed Rate
Rate: 3.625%
Term: 30 Yr.
Points: 0.000%
Monthly Payment / $10,000*: $45.61
APR1 (based on $200,000, 20% down): 3.669%
Minimum Down: 5%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 15 Yr. Fixed Rate
Rate: 2.500%
Term: 15 Yr.
Points: 2.000%
Monthly Payment / $10,000*: $66.68
APR1 (based on $200,000, 20% down): 2.866%
Minimum Down: 5%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 15 Yr. Fixed Rate
Rate: 3.000%
Term: 15 Yr.
Points: 0.000%
Monthly Payment / $10,000*: $69.06
APR1 (based on $200,000, 20% down): 3.077%
Minimum Down: 5%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 3/1 ARM**
Rate: 2.490%
Term: 30 Yr.
Points: 1.000%
Monthly Payment / $10,000*: $39.46
APR1 (based on $200,000, 20% down): 3.205%
Minimum Down: 5%
Time Initial Rate is Fixed: 3 Yrs.
Adjustment After Initial Period: 1 Yr.
First Adjusted Interest Rate: 3.250%
Max Lifetime Cap: 8.490%
Type: 5/1 ARM**
Rate: 2.625%
Term: 30 Yr.
Points: 1.000%
Monthly Payment / $10,000*: $40.17
APR1 (based on $200,000, 20% down): 3.155%
Minimum Down: 5%
Time Initial Rate is Fixed: 5 Yrs.
Adjustment After Initial Period: 1 Yr.
First Adjusted Interest Rate: 3.250%
Max Lifetime Cap: 7.625%
Type: 7/1 ARM**
Rate: 2.740%
Term: 30 Yr.
Points: 1.000%
Monthly Payment / $10,000*: $40.77
APR1 (based on $200,000, 20% down): 3.137%
Minimum Down: 5%
Time Initial Rate is Fixed: 7 Yrs.
Adjustment After Initial Period: 1 Yr.
First Adjusted Interest Rate: 3.250%
Max Lifetime Cap: 7.740%
Jumbo Mortgage Rates
Type
Rate
Term
Points
Monthly Payment / $10,000*
APR1 (based on $750,000, 20% down)
Minimum Down
Time Initial Rate is Fixed
Adjustment After Initial Period
First Adjusted Interest Rate
Max Lifetime Cap
Type: 30 Yr. Fixed Rate***
Rate: 3.625%
Term: 30 Yr.
Points: 0.000%
Monthly Payment / $10,000*: $45.61
APR1 (based on $750,000, 20% down): 3.637%
Minimum Down: 20%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 15 Yr. Fixed Rate
Rate: 3.500%
Term: 15 Yr.
Points: 0.000%
Monthly Payment / $10,000*: $71.49
APR1 (based on $750,000, 20% down): 3.521%
Minimum Down: 10%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 3/1 ARM**
Rate: 2.740%
Term: 30 Yr.
Points: 0.000%
Monthly Payment / $10,000*: $40.77
APR1 (based on $750,000, 20% down): 3.150%
Minimum Down: 10%
Time Initial Rate is Fixed: 3 Yrs.
Adjustment After Initial Period: 1 Yr.
First Adjusted Interest Rate: 3.250%
Max Lifetime Cap: 8.740%
Type: 5/1 ARM**
Rate: 2.875%
Term: 30 Yr.
Points: 0.000%
Monthly Payment / $10,000*: $41.49
APR1 (based on $750,000, 20% down): 3.132%
Minimum Down: 10%
Time Initial Rate is Fixed: 5 Yrs.
Adjustment After Initial Period: 1 Yr.
First Adjusted Interest Rate: 3.250%
Max Lifetime Cap: 7.875%
Type: 7/1 ARM**
Rate: 2.990%
Term: 30 Yr.
Points: 0.000%
Monthly Payment / $10,000*: $42.11
APR1 (based on $750,000, 20% down): 3.142%
Minimum Down: 10%
Time Initial Rate is Fixed: 7 Yrs.
Adjustment After Initial Period: 1 Yr.
First Adjusted Interest Rate: 3.250%
Max Lifetime Cap: 7.990%