Bronco's Routing #: 251480592
An Adjustable-Rate Mortgage, or ARM, offers a lower interest rate and payments that are fixed for an initial period, then converts to a higher rate for a subsequent specified period. For example, if you have a Bronco 1/1 ARM, your initial rate will be locked in for one year, then it will adjust annually each year afterward, based on the rate established by the Federal Reserve Board.
ARMs are beneficial for people who want to take advantage of low rates for the initial term then plan to refinance. They’re also good for people who only plan to be in their homes for a short period of time, such as military families who get transferred every couple of years.
A Bronco Adjustable-Rate Mortgage offers you:
Must maintain adequate insurance. 5% penalty for late payments. Interest rate is determined by credit score. See a Real Estate Loan Specialist or contact us at 757.569.6000 for more details. Membership eligibility required.