Adjustable-Rate Mortgage

start strong, and speed up.

Adjustable-Rate Mortgages are not for everyone. But for some, they can be a sound home ownership strategy. This type of loan starts with lower monthly payments for a fixed period, followed by variable rates (with rate limitations) that make your monthly payments fluctuate at set intervals.

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See if you qualify for an Adjustable-Rate Mortgage from Allegacy.
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Annual Adjustments

Begin annual adjustments after two (2/1), five (5/1), seven (7/1) or ten (10/1) years more »

15-30 Year Loans

You can choose to amortize your adjustable-rate mortgage across 15 or 30 years more »

Popular 10/1 Option

Start with the security of a low, fixed rate for ten years, followed by regular annual adjustments more »


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Mortgage Loan Specialist

Contact us at 336.774.3400 | 800.782.4670 or get in touch with one of our specialists for a consultation.

Specialty Adjustable-Rate Mortgages

With our Medical Mortgage Program based on our 10/1 Adjustable Rate Mortgage*, you get a loan that’s just right for your needs. Because more people are staying in their homes for 10 years or less, this loan is the perfect size for many reasons:

  • Not the typical ARM, this loan offers an extended fixed interest rate at very competitive rates.
  • Zero down payment option for purchase transactions.
  • Conducive for medical professionals** just starting their careers as eligible applicants may qualify to exclude their student loan debt in their debt-to-income (DTI) ratio.
  • Available to existing homeowners, who are medical professionals with 10-12 years left on their mortgage, looking to refinance.

contact a Mortgage Loan Specialist to learn more or get started

*For example, on a 10/1 Adjustable Rate Mortgage (ARM), the index is the One Year London Interbank Offered Rate (LIBOR) and the interest rate and payment are fixed for the first ten years of the loan. The interest rate cannot increase or decrease more than 5% at first adjustment and 2% per subsequent adjustment from the initial interest rate at each twelve-month adjustment. The interest rate cannot increase more than 5% over the term of the loan.
**Medical professionals are defined as being a physician, physician’s assistant, dentist, nurse practitioner and/or pharmacist.

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See if you qualify for an Adjustable-Rate Mortgage.

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  • The 10/1 ARM offers a fixed rate for the first ten years. After that, the rate and monthly payment may change annually for the remaining life of the adjustable-rate mortgage, based on the one-year LIBOR plus a margin of 2.25. The maximum adjustment is 5% lifetime cap.

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