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Home > Loans & Credit Cards > Loans and Credit Cards > First Mortgages > First South Financial Adjustable Rate Mortgage

Adjustable Rate Mortgage Loans

First South Financial is a full service mortgage lender that offers several types of mortgage loans to meet your lending needs.

Visit our latest specials page for complete details!

Our adjustable rate mortgage loans are a great option for:

  • Anyone looking to purchase a new home
  • Anyone looking to purchase a second home
  • Anyone looking to refinance their home for a term of longer than 10 years

The tables below illustrate the loans we offer and their features:

Loan Type 5/1 ARM 7/1 ARM 10/1 ARM 10/15 ARM
Maximum LTV* 97% 97% 97% 97%
Maximum Loan Amount $500,000 $500,000 $500,000 $500,000
Maximum term (in years) 30 30 30 15
Points? No No No No
Origination fees? Yes Yes Yes Yes
LTV to avoid PMI* 80% 80% 80% 80%
Sold to another lender? No No No No
Yearly adjustment cap 2% 2% 2% 2%
Lifetime adjustment cap 6% 6% 6% 6%

 

 

 

Mortgage Rates
Effective Date: Tuesday, November 13th, 2018
RateAPRPoints
10 Year Fixed Rate
This loan is amortized for a period up to 10 years. The maximum LTV is 95%.
Term: 10 years Maximum Amount: $500,000
3.99%** 3.99%** 0.00%
15 Year Fixed Rate
This loan is amortized for a period up to 15 years. The maximum LTV is 80%.
Term: 15 years Maximum Amount: $500,000
4.50%** 4.50%** 0.00%
5/1 ARM
This loan has a fixed rate for the first 5 years and can be amortized for up to 30 years.
Term: 30 years Maximum Amount: $500,000
5.10%** 5.10% 0.00%
7/1 ARM
This loan has a fixed rate for the first 7 years and can be amortized for up to 30 years.
Term: 30 years Maximum Amount: $500,000
5.15%** 5.15%** 0.00%
10/1 ARM
This loan has a fixed rate for the first 10 years and can be amortized for up to 30 years.
Term: 30 years Maximum Amount: $500,000
5.40%** 5.40%** 0.00%
10/15 ARM
This loan has fixed rate for the first 10 years and can be amortized for up to 15 years.
Term: 15 years Maximum Amount $500,000
5.40%** 5.40%** 0.00%
Physicians 10/1 ARM
This loan has a fixed rate for the first 10 years and can be amortized for up to 30 years.
Term: 30 years Maximum Amount: $500,000
5.90%** 5.90** 0.00%

 

 

 Apply for a First South Financial adjustable rate mortgage loan

Questions? Give us a call or send us an email and we'll get back with you promptly.

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We also offer many ways to make your mortgage loan payments. Learn more about our loan payment options.

*LTV – Loan to Value. PMI -Private Mortgage Insurance.  Other rates and terms are available. Loans are subject to approval criteria, not all applicants will qualify. Offer is subject to change or withdrawal without notice. First South Financial is an equal housing lender. NMLS # 410640.

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