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, 7, or 10 years. After the fixed-rate period expires, the interest rate adjusts every 6 months. For example – our 5/6m ARM will have a fixed rate for the first 5 years. It will then adjust every 6 months 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.
- 3/6m, 5/6m, 7/6m and 10/6m options available
- Down payment options as low as 5%
- Local underwriting on select products
Conforming Mortgage Rates
Type
Rate
Term
Monthly Payment / $10,000*
APR1 (based on $350,000, 25% 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: 6.500%
Term: 30 Yr.
Monthly Payment / $10,000*: $63.21
APR1 (based on $350,000, 25% down): 6.661%
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: 5.625%
Term: 15 Yr.
Monthly Payment / $10,000*: $82.37
APR1 (based on $350,000, 25% down): 5.903%
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: 3/6m SOFR ARM**
Rate: 7.000%
Term: 30 Yr.
Monthly Payment / $10,000*: $66.53
APR1 (based on $350,000, 25% down): 7.781%
Minimum Down: 5%
Time Initial Rate is Fixed: 3 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.875%
Max Lifetime Cap: 13.000%
Type: 5/6m SOFR ARM**
Rate: 7.250%
Term: 30 Yr.
Monthly Payment / $10,000*: $68.22
APR1 (based on $350,000, 25% down): 7.758%
Minimum Down: 5%
Time Initial Rate is Fixed: 5 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.875%
Max Lifetime Cap: 12.250%
Type: 7/6m SOFR ARM**
Rate: 7.500%
Term: 30 Yr.
Monthly Payment / $10,000*: $69.92
APR1 (based on $350,000, 25% down): 7.818%
Minimum Down: 5%
Time Initial Rate is Fixed: 7 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.875%
Max Lifetime Cap: 12.500%
Jumbo Mortgage Rates
Type
Rate
Term
Monthly Payment / $10,000*
APR1 (based on $850,000, 25% 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: 6.750%
Term: 30 Yr.
Monthly Payment / $10,000*: $64.86
APR1 (based on $850,000, 25% down): 6.865%
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: 7.000%
Term: 15 Yr.
Monthly Payment / $10,000*: $89.88
APR1 (based on $850,000, 25% down): 7.209%
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: 3/6m SOFR ARM**
Rate: 7.000%
Term: 30 Yr.
Monthly Payment / $10,000*: $66.53
APR1 (based on $850,000, 25% down): 7.757%
Minimum Down: 10%
Time Initial Rate is Fixed: 3 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.875%
Max Lifetime Cap: 13.000%
Type: 5/6m SOFR ARM**
Rate: 7.250%
Term: 30 Yr.
Monthly Payment / $10,000*: $68.22
APR1 (based on $850,000, 25% down): 7.734%
Minimum Down: 10%
Time Initial Rate is Fixed: 5 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.875%
Max Lifetime Cap: 12.250%
Type: 7/6m SOFR ARM**
Rate: 7.500%
Term: 30 Yr.
Monthly Payment / $10,000*: $69.92
APR1 (based on $850,000, 25% down): 7.793%
Minimum Down: 10%
Time Initial Rate is Fixed: 7 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.875%
Max Lifetime Cap: 12.500%