Zero Down 7/1 Adjustable Rate Mortgage (ARM)

You need a minimum credit score of 700, and your debt-to-income ratio must not exceed 45%.

After the first seven years, the interest rate adjusts annually based on the weekly average 1-year Treasury Constant Maturity Index plus a margin of 2.50%. The adjustment caps are 1.50% per year, with a lifetime cap of 5.00% over the initial rate.

Yes, non-occupant co-borrowers are not eligible for this loan program. Only primary residence occupants can apply.

Borrower-paid mortgage insurance is required, with a maximum coverage of 25%. Single premium rates are not eligible, and delivery is only through the non-delegated channel.

No, gifts, grants, and subordinate financing are not allowed for this loan program.

The interest rate adjustment caps are 1.50% per year, with a lifetime cap of 5.00% over the initial rate. The new annual percentage rate is calculated using the weekly average 1-year Treasury Constant Maturity Index plus a margin of 2.50%.