Want a lower rate than you can get from a 30-year fixed rate mortgage? Want more payment predictability than you would get from a variable rate loan? Then our Fixed/Adjustable Rate Mortgages are just right for you. These "hybrid" loans offer a very low rate that stays fixed for three to ten years, then convert to an adjustable rate. This may make the difference in being able to afford your first home, or to move up to a bigger or better home, without giving up the security of a fixed payment during the first years of the mortgage. Which Fixed/Adjustable Mortgage you choose depends on your preferences for payment security vs. cash flow. All of the following have a total repayment period of 30 years:

7/23 Mortgage: 7 Year Fixed / 23 Year Adjustable Rate  Rates   Apply

5/25 Mortgage: 5 Year Fixed / 25 Year Adjustable Rate  Rates   Apply

For even more payment security, the rate after the initial period will only adjust every 5 or 10 years on the 5/5 and the 10/10/10:

5/5 Mortgage: 5 Year Fixed / Rate adjusts every 5 years thereafter  Rates   Apply

10/10/10 Mortgage: 10 Year Fixed / Rate adjusts every 10 years thereafter  Rates   Apply

Want an even smaller payment? Consider an Interest-Only Fixed/Adjustable Mortgage (see below for details).

Are you looking for the lowest possible fixed monthly payments we offer? You've come to the right place. Provident Credit Union now offers Interest-Only mortgage loans! By paying only the fixed interest payments during the initial period, your payments are significantly smaller, which makes larger mortgages more affordable. And you still have the choice reducing the principal during that period by making payments in excess of the scheduled amounts.

7/23 Interest-Only Mortgage: 7 Year Fixed / 23 Year Adjustable Rate  Rates   Apply

5/25 Interest-Only Mortgage: 5 Year Fixed / 25 Year Adjustable Rate  Rates   Apply

For even more payment security, the rate after the initial period will only adjust every 5 or 10 years on the Interest-Only 5/5 and the Interest-Only 10/10/10:

5/5 Interest-Only Mortgage: 5 Year Fixed / Rate adjusts every 5 years thereafter  Rates   Apply

10/10/10 Interest-Only Mortgage: 10 Year Fixed / Rate adjusts every 10 years thereafter  Rates   Apply

The Interest-Only option is available on Fixed Interest Mortgages too (interest payments during initial period, principal and remaining interest amortized over remaining period):

Would you like to secure today’s low interest rate and take it with you the next time you move? Now you can with Provident's Movable Mortgage! You can lock in today's low mortgage rates on a Provident Credit Union 5/25, 7/23, 5/5, or 10/10/10 home loan and then transfer the rate to the next home you buy (see above for details on the Fixed Adjustable Mortgages). This option can possibly save you thousands of dollars.

How it works

You have a new home with a great rate. But, let's say you decide to move in three years. Rates maybe higher then. And you still have years left with your original low rate. Now you can transfer that rate and term to your next home!

Your Plans

• Think you might want to upgrade? You can buy now to purchase your dream house later--when you're ready to "upgrade" to a more expensive home, you'll keep the rate & terms offered on your existing loan.
• Plan on Relocating? Think that your job will relocate you in a few years? With the Movable Mortgage, you may still enjoy home ownership & feel secure knowing the portability offers protection when you're ready to move! (loans to properties within the state of California only)

Benefits

• Save Money: You can take advantage of today's low interest rates by transferring your current low rate to the next home you buy.
• Feel Secure: The Movable Mortgage gives peace of mind, even if rates rise in the next few years.

Movable Mortgages are available for all of the 5/5 (Rates, Apply), 5/25 (Rates, Apply), 7/23 (Rates, Apply), and 10/10/10 (Rates, Apply) mortgage loans, including the Interest-Only versions of these loans.

This type of loan appeals to the more conservative borrower, or those who are certain they will not move or have a need to refinance for many years. The 10 or 15 year repayment options that are available with a fixed interest loan can significantly reduce interest expense, in exchange for a higher payment. Those shorter terms may be of particular interest to those who are closer to retirement, or who wish to refinance an existing mortgage to take advantage of low rates, without adding an additional 30 years to pay it off.

15-Year Fixed Rate Mortgage  Rates   Apply

20-Year Fixed Rate Mortgage  Rates   Apply

30-Year Fixed Rate Mortgage  Rates   Apply

Apartment buildings are our specialty! Consider the advantages of financing your apartment building with Provident, up to $4 million for 5-36 units:

• Low fixed rate options available
• 30 year terms
• No pre-payment penalty
• Fully assumable loan
• Cash-out available on all programs

E-Mail Mo Sangabi or call him at (650) 508-0300, option 1-2172, or (800) 632-4600, option 1-2172 for more information on apartment building mortgages.