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Adjustable-Rate Mortgage

Finance your home with flexible rates from Gulf Winds

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Make Your Next Move Wisely

Don't let rising mortgage rates delay your next move. Our variety of Adjustable Rate Mortgage (ARM) loan option helps homeowners save money now with initial lower payments.1

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Mortgage pre-approval lets you shop smarter and make stronger offers in a competitive market, especially if you're a first-time homebuyer. 
Reach out to our helpful mortgage team to get started. 

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Adjustable Rate Mortgages (ARM)

Don't let rising mortgage rates delay your next move. Our Adjustable Rate Mortgage (ARM) options help homeowners save money now with initial lower payments. This is a great option for buyers who plan to live in their home for only a few years or think interest rates may go down in the future. Properties that qualify for an Adjustable Rate Mortgage are primary residences and second/vacation homes.2

  • Various term options: 3/1, 5/1, 7/1, 10/1
  • Lower initial monthly payments
  • Lower fixed rate up to 10 years
  • Gulf Winds retains and services your loan

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Why an ARM?

Don't let rising mortgage rates delay your next move. Our Adjustable Rate Mortgage (ARM) options help homeowners save money now with initial lower payments. This is a great option for buyers who plan to live in their home for only a few years or think interest rates may go down in the future. Properties that qualify for an Adjustable Rate Mortgage are primary residences and second/vacation homes.2

 

  • Various term options: 3/1, 5/1, 7/1, 10/1
  • Lower initial monthly payments
  • Lower fixed rate up to 10 years
  • Gulf Winds retains and services your loan

Apply Now   View Rates

Additional Mortgage Options

It's one of the biggest purchases of your life, so don't settle for "good enough."
Let us help you find the perfect loan for your perfect home.

Max Value Mortgage

Our Max Value MortgageTM is great for those who want to own a home but struggle to save a substantial amount of money. 

  • Fixed Rate for 30 years
  • Low to no down payment required
  • No private mortgage insurance (PMI) required

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Home equity is the difference between how much you owe on your mortgage and how much your home is worth.

  • Fixed rate HELOAN
  • 3.99% APR HELOC3
  • Closing Costs Paid
  • 85% Maximum Loan-to-Value

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VA and USDA loans are government-sponsored mortgages intended to help families become homeowners with little to no down payment required. VA mortgages are available for eligible veterans, reservists, and active-duty personnel4, while USDA loans are available for those in rural areas and within the program's income limits5.

  • Fixed rates
  • Refinance options available
  • Finance options up to 100%4
  • Low to no down payment required

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Mortgage Calculators and Resources

From deciding how much home you can afford to estimating closing costs, we have the tools you need to make informed decisions about what loan is right for you.

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Helpful Homebuying Tips

Still have questions? Check out these tools to help better understand the homebuying process.

Apply For An ARM

Frequently Asked Questions

You can use our 10/1 Adjustable Rate Mortgage loan to buy primary residences and second/vacation homes.

Each of our term options represent how long the mortgage rate is fixed before adjustment. For example, a 10/1 ARM is a type of mortgage loan that offers a fixed rate for the first 10 years and a variable rate that adjusts once a year starting in year 11 and for the life of the loan. A 7/1 ARM will adjust starting in year 8 and so on. Your Annual Percentage Rate (APR) may increase or decrease after the original fixed-rate period.

ARMs offer lower initial rates and monthly payments than other fixed mortgage options. It can help you save and build equity during the initial fixed period when you may enjoy lower monthly payments. Also, after the fixed 10-year period, mortgage rates may have gone down, which means you could get a lower APR and even lower monthly payments in the future.

Your initial rate or Annual Percentage Rate (APR) will be based on your overall financial situation, credit score, and debt-to-income ratio.

My Gulf Winds loan officer made a point to help find financial help for my situation. She wouldn’t stop until she found a loan to fit my life.
Kevin R.
Sherry Brock

Sherry Brock

NMLS# 1367681

Apply with Sherry

Email Sherry Brock

Ext. 463

Katrinka Phillips

Katrinka Phillips

NMLS# 2128562

Apply with Katrinka

Email Katrinka Phillips

Ext. 752

April Glover

April Glover

NMLS# 854548

Apply with April

Email April Glover

Ext. 446


Gulf Winds Credit Union NMLS #414456

*Interest rates, annual percentage rates (APRs), points and estimated breakdowns are subject to change without notice.

1 - Depending on selected term option, our Adjustable Rate Mortgages have a fixed rate for the first 3, 5, 7 ,or 10-years and a variable rate that adjusts once a year for the final length of loan, starting at either years 4, 6, 8, or 11. Your Annual Percentage Rate (APR) may increase after the original fixed-rate period. The First Adjusted Payments displayed are based on the current Constant Maturity Treasury (CMT) index, plus the margin (fully indexed rate) as of the stated effective date rounded to nearest 1/8th of one percent.

2 - Home Owners Insurance is required. Flood and Wind Insurance may be required, when applicable. Exclusions and limitations apply. Gulf Winds agrees to pay closing costs on new HELOANs and HELOCS with the exception of appraisal fees, title insurance, and any fees associated with Home Owner's Association. Closing costs can range from $150 to $1500. If the loan is paid off and closed in less than three years of the loan origination date, all closing costs paid by Gulf Winds Credit Union will require reimbursement. Closing costs depend on the location of the property, property type, and the amount of the Equity Loan. Consult your tax advisor about possible tax benefits. Owner-occupied property only and Gulf Winds Credit Union must be in a valid first or second lien position. Refer to HELOAN or HELOC application or ask your Mortgage Loan Officer for complete details. This offer may be withdrawn at any time.

3 - Subject to credit approval. The introductory rate will be in effect for the first six (6) months after your line of credit is opened. After the promotional period, the variable standard APR will be based on your line amount, combined loan to value ratio, and credit rating. Upon expiration of the introductory rate, all balances will accrue interest at the variable standard APR. This offer is available to new equity line members, and is subject to change without notice. Required minimum draw at closing is $10,000.

4 - Eligible veterans, reservists, and Active Duty personnel and their eligible spouses with suitable credit, sufficient income and a valid Certificate of Eligibility (COE) can take advantage of 100% financing/zero-down payment options with a VA Mortgage, guaranteed by the Department of Veterans Affairs. Underwriting and loan approval required. Zero-day payment subject to terms and conditions. A funding fee is required at closing. The fee is higher with a zero-down payment, and maximum loan limits vary by county. If a down payment of 5% or more is made, the fee is reduced. The VA funding fee is non-refundable. Ask for details about eligibility, documentation and other requirements. The property must be occupied by the veteran as their primary residence.

5 - Available on primary residences only. Certain property types are ineligible. Borrower(s) must not have an individual or joint ownership interest in any other residential property at time of closing. Homebuyer education may be required. Restrictions apply regarding co-borrowers. Maximum income and loan amount limits apply.

Estimated Mortgage Loan Payment Breakdowns

Adjustable Rate Mortgages (ARM)
10/1 Adjustable Rate Mortgage (ARM): For loan Amount $200,000, 30-year term: Years 1-10 with at a rate of 5.860% and 6.081% APR will have a monthly payment of $1,181.16. Years 11-30 with a maximum rate of 10.860% and 11.159% APR will have a monthly payment of $1,883.52. This Adjustable Rate Mortgage has a fixed interest rate for the first 10 years and a variable rate that adjusts once a year starting at year 11. Your Annual Percentage Rate (APR) may increase after the original fixed-rate period.

7/1 Adjustable Rate Mortgage (ARM): For loan Amount $200,000, 30-year term: Years 1-7 with at a rate of 5.760% and 5.979% APR will have a monthly payment of $1,168.42. Years 8-30 with a maximum rate of 10.760% and 11.057% APR will have a monthly payment of $1,868.47. This Adjustable Rate Mortgage has a fixed interest rate for the first 7 years and a variable rate that adjusts once a year starting at year 8. Your Annual Percentage Rate (APR) may increase after the original fixed-rate period.

5/1 Adjustable Rate Mortgage (ARM): For loan Amount $200,000, 30-year term: Years 1-5 with at a rate of 5.530% and 5.746% APR will have a monthly payment of $1,139.35. Years 6-30 with a maximum rate of 10.530% and 10.823% APR will have a monthly payment of $1,829.48. This Adjustable Rate Mortgage has a fixed interest rate for the first 5 years and a variable rate that adjusts once a year starting at year 6. Your Annual Percentage Rate (APR) may increase after the original fixed-rate period.


3/1 Adjustable Rate Mortgage (ARM): For loan Amount $200,000, 30-year term: Years 1-3 with at a rate of 5.500% and 5.716% APR will have a monthly payment of $1,135.58. Years 4-30 with a maximum rate of 10.760% and 11.057% APR will have a monthly payment of $1,829.48. This Adjustable Rate Mortgage has a fixed interest rate for the first 3 years and a variable rate that adjusts once a year starting at year 4. Your Annual Percentage Rate (APR) may increase after the original fixed-rate period.