What Makes a House a Home?
Family. Laughter. Love!
Life is much too short to worry about mortgage payments. Enjoy your home with a worry-free, affordable mortgage from Northland. Back by popular demand, we now have adjustable rate mortgages with rates as low as 3.20% APR!*
What's so great about OUR Adjustable Mortgages? Low rates, minimal closing costs and no annual fee!
Check out our FAQs:
- I'm nervous about adjustable rates. Are they a good idea?
- What are Northland's current Mortgage Rate Specials?
- Do rates always go up? Could my rate ever go down?
- I'm unhappy with my current mortgage. Could I refinance?
- See Full Disclosures for our Special Offers
- See other Mortgage options
I'm nervous about adjustable rate mortgages. Are they a good idea? Adjustable Rate Mortgages, or ARMs, have developed a poor reputation in recent years. That's unfortunate, because much like financial institutions, all adjustable mortgages are NOT equal. The fact is, a well structured adjustable rate mortgage can provide an affordable financing opportunity. Rest assured, with a Northland ARM there will never be surprise increases or skyrocketing rates.
What are Northland's Mortgage Rate Specials? We currently offer two adjustable rate specials:
| Adjustable Mortgage Specials | 3/3 Special* | 5/5 Special** |
| Rates start as low as | 3.20% APR | 3.61% APR |
| How often does the rate reset? | Every 3 years | Every 5 years |
| What is the maximum the rate can go up each time it resets? | 2% APR | 2% APR |
| What is the maximum the rate can go up over the life of the loan? | 6% APR | 6% APR |
| If I don't like my rate at some point, could I apply for refinancing? | Of Course! | |
Do rates always go up? Could my rate ever go down? Each adjustment period, your rate can change by as much as 2%. The rate is based on the current value of Treasury Bills and can raise, lower or stay exactly the same. However, it will never go lower than the promotional rate (3.20% APR for the 3/3 Mortgage, 3.61% APR for the 5/5 Mortgage), nor will it raise by more than 6% APR over the entire life of the loan. See full disclosures below.
I'm unhappy with my current mortgage. Could I apply for refinancing at these rates? Absolutely! We're here to help you find the right mortgage for your needs. Give us a call at 800-336-2328 or stop by your favorite Northland branch and let's talk about it!
*3.20% Annual Percentage rate (APR) is adjustable and will reset every three years. After three years the rate will adjust no more than 2% per adjustment period or 6% over the life of the loan. These rates are our “as low as rates” based on the 3 year Treasury Bill and adjustments and restrictions may apply.
**3.61% Annual Percentage rate (APR) is adjustable and will reset every five years. After five years the rate will adjust to no more than 2% per adjustment period or 6% over the life of the loan. These rates are our “as low as rates” based on the 5 year Treasury Bill. Adjustments and restrictions may apply.
These rates apply only for Refinance and Purchase Mortgages for primary and secondary residences. Requires membership and a $5.00 Share account. Please contact us for complete details.
Could a Northland mortgage be right for you?
Let's talk about it! Call 800-336-2328 ext 100 today!
