Adjustable-Rate Mortgage (ARM) loans have interest rates that change during the life of the loan. ENB offers ARMs with an initial interest rate that’s fixed for a period of 3, 5, 7, or 10 years. After the fixed-rate period expires, the interest rate adjusts every six months. For example – our 5/6m ARM will have a fixed rate for the first 5 years. It will then adjust every 6 months for the remaining 25 years of the mortgage. This is a great option for borrowers planning to stay in their home less than the fixed-rate period as that rate is typically lower than a fixed-rate mortgage.
- 3/6m, 5/6m, 7/6m or 10/6m options available
- Down payment options as low as 5%
- Local underwriting on select products
Conforming Mortgage Rates
Type
Rate
Term
Monthly Payment / $10,000*
APR1 (based on $350,000, 25% down)
Minimum Down
Time Initial Rate is Fixed
Adjustment After Initial Period
First Adjusted Interest Rate
Max Lifetime Cap
Type: 30 Yr. Fixed Rate
Rate: 7.00%
Term: 30 Yr.
Monthly Payment / $10,000*: $66.53
APR1 (based on $350,000, 25% down): 7.040%
Minimum Down: 5%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 15 Yr. Fixed Rate
Rate: 6.125%
Term: 15 Yr.
Monthly Payment / $10,000*: $85.06
APR1 (based on $350,000, 25% down): 6.208%
Minimum Down: 5%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 3/6m SOFR ARM**
Rate: 6.750%
Term: 30 Yr.
Monthly Payment / $10,000*: $64.86
APR1 (based on $350,000, 25% down): 7.349%
Minimum Down: 5%
Time Initial Rate is Fixed: 3 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.375%
Max Lifetime Cap: 12.750%
Type: 5/6m SOFR ARM**
Rate: 7.000%
Term: 30 Yr.
Monthly Payment / $10,000*: $66.53
APR1 (based on $350,000, 25% down): 7.362%
Minimum Down: 5%
Time Initial Rate is Fixed: 5 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.375%
Max Lifetime Cap: 12.000%
Type: 7/6m SOFR ARM**
Rate: 7.375%
Term: 30 Yr.
Monthly Payment / $10,000*: $69.07
APR1 (based on $350,000, 25% down): 7.519%
Minimum Down: 5%
Time Initial Rate is Fixed: 7 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.375%
Max Lifetime Cap: 12.375%
Jumbo Mortgage Rates
Type
Rate
Term
Monthly Payment / $10,000*
APR1 (based on $850,000, 25% down)
Minimum Down
Time Initial Rate is Fixed
Adjustment After Initial Period
First Adjusted Interest Rate
Max Lifetime Cap
Type: 30 Yr. Fixed Rate
Rate: 9.250%
Term: 30 Yr.
Monthly Payment / $10,000*: $82.27
APR1 (based on $850,000, 25% down): 9.384%
Minimum Down: 20%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 15 Yr. Fixed Rate
Rate: 7.625%
Term: 15 Yr.
Monthly Payment / $10,000*: $93.41
APR1 (based on $850,000, 25% down): 7.817%
Minimum Down: 20%
Time Initial Rate is Fixed: n/a
Adjustment After Initial Period: n/a
First Adjusted Interest Rate: n/a
Max Lifetime Cap: n/a
Type: 3/6m SOFR ARM**
Rate: 6.750%
Term: 30 Yr.
Monthly Payment / $10,000*: $64.86
APR1 (based on $850,000, 25% down): 7.326%
Minimum Down: 10%
Time Initial Rate is Fixed: 3 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.375%
Max Lifetime Cap: 12.750%
Type: 5/6m SOFR ARM**
Rate: 7.000%
Term: 30 Yr.
Monthly Payment / $10,000*: $66.53
APR1 (based on $850,000, 25% down): 7.338%
Minimum Down: 10%
Time Initial Rate is Fixed: 5 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.375%
Max Lifetime Cap: 12.000%
Type: 7/6m SOFR ARM**
Rate: 7.375%
Term: 30 Yr.
Monthly Payment / $10,000*: $69.07
APR1 (based on $850,000, 25% down): 7.494%
Minimum Down: 10%
Time Initial Rate is Fixed: 7 Yrs.
Adjustment After Initial Period: 6 Months
First Adjusted Interest Rate: 7.375%
Max Lifetime Cap: 12.375%