Skip to main content

Apply Now

If you are currently a Metro member, please select “Current Member Application” and log into our online banking platform.

If you are a non-member, please select “New Member Application” to apply.

Forgot UserName Forgot Password Register Now
Join Now

Limited Time Offer

Adjustable-Rate Mortgage (ARM)

Unlike a traditional mortgage where the interest rate remains the same throughout the term of the loan, an adjustable-rate mortgage, or ARM, is a home loan with an interest rate that changes over time, typically after an initial fixed-rate period. An ARM can be an ideal solution for borrowers wanting to refinance, tap into their home's equity, or purchase, especially during periods of high interest rates.

So, if you're looking for a lower initial interest rate, lower payment, flexibility, and greater buying power, a 5/6 ARM from Metro Credit Union may be a better mortgage option for you! But don't wait, rates are subject to change.

Adjustable-Rate Mortgage FAQ

What is a 5/6 Adjustable-Rate Mortgage (ARM)?

A 5/6 ARM is a mortgage with an interest rate that's fixed for the first 5 years. After the fixed period, the rate could potentially adjust every 6 months after based on interest rates at that time. 

Why Would I Choose a 5/6 ARM Over a Fixed-Rate Mortgage?

The 5/6 ARM offers a lower initial interest rate than a fixed-rate mortgage, which means lower monthly payments for the five-year period. This can offer huge savings, especially if you don’t plan to stay in the home long term or think rates are going to go down. In the event rates do go down, you would be able to refinance into a lower rate, fixed term product.

How are Rate Changes Determined After the First 5 Years?

After the fixed period, your rate could adjust every 6 months based on an index plus a fixed margin. For example, if the index is 3% and your margin is 2.25%, your new rate would be 5.25%.  

Can I Refinance Before the Rate Starts Adjusting?

Yes, you may refinance your mortgage at any time. This can be a good strategy if you want to avoid the uncertainty of fluctuating rates or if you can secure a lower interest rate on a fixed-rate mortgage. 

How High Can My Rate Adjust?

The 5/6 ARM has adjustment caps in place to protect you. Your rate will never increase by more than 5% over the life of the loan and will never be less than the initial start rate.

Contact Metro's Mortgage Team Today!

Jeff Hudkins
Mortgage Sales Manager
MLO Identifier: 776795

Bobby Miles
Mortgage Loan Originator
MLO Identifier: 964470

Phone: 402-552-7179
Email: bobbym@metrofcu.org

Vanessa Fuentes
Mortgage Loan Originator
MLO Identifier: 1536151

Phone: 402-552-7138
Email: vanessaf@metrofcu.org

Hablo Español

Zach Novak
Mortgage Loan Originator
MLO Identifier: 1705911

Phone: 402-552-7145   
Email: zachn@metrofcu.org

*The advertised APR assumes 5/6 adjustable rate mortgage (ARM) of $350,000 4.625% interest and 4.668% APR. A 5/6 ARM is a 30-year mortgage with a fixed interest rate for the first five years which adjusts every six months after that. The interest rate on the first change date will not adjust to more than 9.625% or less than 4.625%. Afterward, the interest rate may increase or decrease by no more than two percentage points from the current rate at each adjustment. The interest rate will never exceed 9.625% or fall below 4.625% during the life of the loan. All rate adjustments are based on the Secured Overnight Financing Rate/SOFR 30-day Average and a margin of 2.25%.

The estimated monthly payment of $1,799.49 is for principal and interest only and excludes property taxes and homeowner’s insurance; therefore, your actual monthly payment may be higher. The maximum monthly payment for principal and interest, if the interest rate reaches the maximum of 9.625%, would be $2,821.00. The applicant(s) is responsible for the following fees and costs at the time of closing: processing fee, underwriting fee, appraisal fee, tax service fee, title fees, title insurance, transfer tax fees, credit report fee, flood cert fee, recording fee, survey fee if required, pest inspection fee, work verification fee, escrow reserves and interest due until first payment. Some fees may be included in the APR calculation. This is not intended to be an all-inclusive list.

This rate offer is effective 02/02/2026 and subject to change.

The advertised rate is based on credit worthiness, and single-family owner-occupied residence with an 80% LTV. Not all applicants will qualify for the advertised rate.  Rates may be adjusted for higher LTVs. All loans are subject to credit approval. The offer is available for loan amounts between $50,000 and $806,500. The maximum loan-to-value (LTV) and combined loan-to-value (CLTV) for a one-unit property is 95%. Loans with an LTV of 80% or greater are subject to private mortgage insurance (PMI), which increases the monthly payment.

Other restrictions may apply. Membership in Metro Credit Union is required. Federally Insured by NCUA.

Contact Us Form

* Indicates required field

  • I am interested in *

Mortgage Calculators

Mortgage Affordability Calculator

*Calculators are for general education only, not representative of Metro Credit Union offerings. Results are estimates based on user input and are not financial advice or guarantees. Consult a Metro Credit Union advisor for personalized advice. Metro Credit Union disclaims accuracy and liability for calculator use.

Mortgage Refinance Calculator

*Calculators are for general education only, not representative of Metro Credit Union offerings. Results are estimates based on user input and are not financial advice or guarantees. Consult a Metro Credit Union advisor for personalized advice. Metro Credit Union disclaims accuracy and liability for calculator use.

  • I've been with Metro for 23 years, starting when I worked for Nebraska Med. They've always worked with me through everything. I'm set for life with my credit union.
    Robert M.
  • I've been a member for over 20 years, starting when I worked at Clarkson Hospital. We've always found Metro's rates to be among the best in the area. When my kids were young, they loved the member appreciation events. Now my son and daughter-in-law are members too.
    Rachel W.
  • I first joined Metro in 1978 and was approved to buy my first home. In 1990, when the chance came to buy my neighbor's house, I was able to sell mine and get a new loan through Metro. As a single mom working at a grocery store, I never dreamed I'd qualify for a home loan. I'm still a member today, and I'm so grateful they trusted me. Member for 48 years.
    Regina H.
  • I joined Metro in 1986 while working as a chaplain at Midlands Hospital in Papillon. At the time, our paychecks were deposited directly at Metro, which meant no more picking up checks late or driving them to another bank. It was a game changer. In the years since, I've gotten car loans, set up online banking, and gotten help with Visa cards, all without hassle or extra costs. I've moved all over the country in the past 40 years, but I've always stayed with Metro.
    NJ D.
  • I've had a great experience that's allowed me to establish credit with my first auto loan. Thank you Metro for giving me this opportunity.
    Jessica A.
  • I joined in 1990 & always receive great service. Technology has evolved for increased convenience & loan rates are great!
    Ann T.
  • I have been with Metro Credit Union since 1996. I wouldn't change to any other bank. Very friendly people and their service is outstanding.
    Tammy F.
  • They make banking easy. The mobile app allows quick access to activity going on in my account, and their tellers are great with ensuring the security of my account.
    Katherine V.
  • I have had multiple loans with Metro Credit Union, and they have stood beside me throughout the six years that I have been banking with them
    Duane T.
  • I have been a member of Metro Credit Union for 40 years. I have gotten car loans and other loans. Some of my children are banking there as well. Friendly and knowledgeable personnel at all locations. Love my credit union!
    Louise G.

Our Recent Blogs

  • Emergency Fund: How Much You Really Need

    Unexpected expenses happen. An emergency fund keeps you covered without relying on credit. Learn how much you really need and where to keep it so your money stays safe and accessible.
    Read Article about Emergency Fund: How Much You Really Need

  • Common Holiday Scams and How to Protect Yourself

    Holiday cheer can hide costly scams. From fake charities to phishing links, learn how to spot fraud and keep your money safe this season. Read our top tips for secure shopping and giving.
    Read Article about Common Holiday Scams and How to Protect Yourself

  • Maximize Your Savings with the Right Account

    Is your money in the right account? The right choice can help you earn more, stay organized, and reach your goals faster. Explore Metro’s smart options for savings, checking, and growth today.
    Read Article about Maximize Your Savings with the Right Account

Certificates

earn up to 4.20% APY

Learn More

Auto Loans

as low as 3.99% APR
for up to 72 months.

Learn More
Routing: 304083396 | 800-301-8549

Español English | Routing: 304083396

800-301-8549