Alliance Credit Union
800.232.8669 Routing Number : 321176804
800.232.8669   Routing Number : 321176804

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Existing Members: Open additional products by logging in to Online Banking

Important changes for members with loans :

Starting in July, your loan details will now be provided on a separate bill from your monthly statement.  Your new loan bill will include recent transaction history, loan balance, due date and other account related activity.  Bills can be sent by mail or electronically.  You may opt-out of receiving paper loan bills by logging onto online banking and signing up for estatements. This will opt you into receiving all information via electronic delivery. If you are not an online banking user, sign up today for free.

 



Initial Fixed-Rate Mortgages

An adjustable rate mortgage, or an "ARM" as they are commonly called, is a loan type that offers a lower initial interest rate than most fixed rate loans. The trade off is that the interest rate can change periodically, usually in relation to an index, and the monthly payment will go up or down accordingly.

Against the advantage of the lower payment at the beginning of the loan, you should weigh the risk that an increase in interest rates would lead to higher monthly payments in the future. It's a trade-off. You get a lower rate with an ARM in exchange for assuming more risk.

For many people in a variety of situations, an ARM is the right mortgage choice, particularly if their income is likely to increase in the future or if they only plan on being in the home less than five to seven years.

5|5 Home Loan

Our 5|5 Adjustable Rate Home Loan is made for people needing an affordable home loan and who may not need a 30-year commitment. Enjoy:
  • Great rates with credit toward your closing costs*
  • Up to $2 million financing for purchases or refinances
  • Maximum 30-year term
  • Rate subject to change every 5 years
  • Maximum interest rate adjustment of 2 percent every five years or 5 percent over the life of the loan


Want flexibility and stability in one? On average, most people move or refinance every five-to-seven years.

More secure than a typical adjustable-rate loan, our 5|5 Home Loan offers lower interest rates than a traditional fixed-rate loan. You’ll enjoy five years of low, locked-in payments, then an adjustment only every five years after that.1



Want more information on other low down payment options?



Additional Adjustable Mortgage Loans

We also have additional adjustable mortgage loans such as the 3|1 ARM, 5|1 ARM and 7|1 ARM. Like the 5|5 Mortgage you’ll enjoy low, locked-in payments for 3 years, 5 years or 7 years, then an adjustment every year after that.


Want more detailed information on adjustable-rate mortgages? Click here
Mortgage questions? Check out our Mortgage Resource Center

* Closing Cost credit cover the loan processing fees of $1095 in CA and $895 in NC
[1] The rate on this mortgage can change every five years. Available mortgage rates and terms are subject to change at any time. Maximum loan amount $2 million. Available only in properties located in California or North Carolina. Other restrictions apply.

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