Keesler Federal Adjustable Rate Mortgages

Adjustable Rate Mortgages

An Adjustable Rate Mortgage (ARM) is a mortgage loan program with low caps on rates. The rate is tied to the Cost of Fund Index which is less volatile index than other adjustable rate loans. This feature will minimize payment fluctuations.

*Sample payment: Assumes credit score for borrower is 740 or higher, Loan to Value of 80% or less and 30-year term. At a 2.990% initial interest rate, the APR for this loan type is 4.088%, subject to increase. Rate is as of 6/16/17. Rates are subject to change. Based on current market conditions, the payment schedule would be about:

• 60 payments of $505.28 at an interest rate of 2.990%
• 299 payments of $600.49 at an interest rate of 4.625%
• 1 payment of $600.20 at an interest rate of 4.625%

This payment schedule is based on a $120,000 loan on a $150,000 for the purchase of a primary residence.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

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Applying online is as easy as 1-2-3. When you have completed the application, click submit and your information will be reviewed quickly by one of our mortgage professionals.

You could pay less than rent with a Keesler Federal ARM Mortgage. Watch our video and learn more.

Mortgage Products

10-Year Home Free Mortgage

Low Fixed rate, shorter-term program designed to help you pay your mortgage off sooner.

10-year fixed mortgages offer:

10 year term*
Up to 85% LTV
No prepayment penalty
Lender paid credit Up to $2,500 towards closing costs
Refinance or purchase
Automatic payment options
Loan stays with Keesler Federal and won't be sold

*Sample payment: Assumes credit score for borrower is 740 or higher and Loan to Value of 80% or less. At a 4.125% interest rate, the APR for this loan type is 4.259%. Rate is as of 5/29/17. The payment schedule would be 120 payments of about $1,222.08 at an interest rate of 4.125%. This payment schedule is based on a $120,000 loan on a $150,000 for the purchase of a primary residence. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

15-Year Fixed Mortgages

Staying in your home for a while? A 15-year fixed rate mortgage could save you a bundle in interest over the long-term. A shorter term combined with a great rate makes this the perfect loan for most homeowners.

15-year fixed mortgages offer:

Refinance or purchase
15-year term*
Low fixed rate for term of loan
Loan amounts to $424,100
Financing available on primary residences, second homes and investment properties

*Sample payment: Assumes credit score for borrower is 740 or higher and Loan to Value of 80% or less. At a 3.125% interest rate, the APR for this loan type is 3.337%. Rate is as of 5/29/17. The payment schedule would be about 180 payments of $835.93 at an interest rate of 3.125%. This payment schedule is based on a $120,000 loan on a $150,000 for the purchase of a primary residence.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

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30-Year Fixed Mortgages

30-year fixed rate loans are one of the most popular mortgage options we offer and they guarantee you the lowest monthly payment of any fixed rate mortgage product. The piece of mind of knowing your payment will never change is very reassuring when planning a budget.

30-year fixed mortgages offer:

Refinance or purchase
30-year term
Low fixed rate for term of loan
Loan amounts to $424,100
Financing available on primary residences, second homes and investment properties

*Sample payment: Assumes credit score for borrower is 740 or higher and Loan to Value of 80% or less. At a 4.000% interest rate, the APR for this loan type is 4.122%. Rate is as of 5/29/17. The payment schedule would be about 360 payments of $572.90 at an interest rate of 4.000%. This payment schedule is based on a $120,000 loan on a $150,000 for the purchase of a primary residence.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

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Adjustable Rate Mortgage (ARM)

Very competitive adjustable rate mortgage program with low caps on rates.

The Adjustable Rate Mortgage offers:

Rates may adjust only every 5 years up or down
5 year adjustments are limited to a 2% cap
Rate is tied to the Cost of Fund Index which is less volatile index than other adjustable rate loans. This feature will minimize payment fluctuations
Terms up to 30 years*
Up to 95% LTV
Lender Paid Credit Up to $2,500 towards closing costs
Refinance or purchase
Automatic payment options
Loan is retained by Keesler Federal and will not be sold

*Sample payment: Assumes credit score for borrower is 740 or higher, Loan to Value of 80% or less and 30-year term. At a 2.990% initial interest rate, the APR for this loan type is 4.088%, subject to increase. Rate is as of 5/29/17. Based on current market conditions, the payment schedule would be about:

• 60 payments of $505.28 at an interest rate of 2.990%
• 299 payments of $600.49 at an interest rate of 4.625%
• 1 payment of $600.20 at an interest rate of 4.625%

This payment schedule is based on a $120,000 loan on a $150,000 for the purchase of a primary residence.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

FHA Mortgage

These Federal Housing Administration loans offer more flexible lending standards and lower down-payment requirements which makes them popular with borrowers.

FHA loans offer:

Smaller down-payment (usually 3.5%) required on purchases
Down payment can be a gift from a family member
Lower fixed interest rate
Terms up to 30 years*
Purchase or refinance

*Sample payment: Assumes credit score for borrower is 740 or higher and 30-year term. At a 3.375% interest rate and a 30-year term, the APR for this loan type is 4.173%. Rate is as of 5/29/17. The payment schedule would be about $619.09 for 360 payments at 3.375%. This payment schedule is based on a $122,100 loan on a $126,000 purchase price of a primary residence. The monthly payment amounts quoted include the mortgage insurance premium. Mortgage insurance is required for most FHA loans. The monthly mortgage insurance premium is calculated based on the average annual outstanding balance, so it will vary from year to year. The actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

VA Mortgage

Veteran’s Administration loans allow eligible Veterans and active duty military personnel the opportunity to finance the purchase of a home or refinance their existing mortgage.

VA mortgage loans offer:

No down payment required
Fixed interest rate
Terms up to 30 years*
Up to 100% LTV which can include the funding fee (if required)
Purchase or refinance
No monthly mortgage insurance

*Sample payment: Assumes credit score for borrower is 740 or higher and 30-year term. At a 3.375% interest rate, the APR for this loan type is 3.617%. Rate available as of 5/29/17. The payment schedule would be about 360 payments of $541.92 at an interest rate of 3.375%. This payment schedule is based on a $122,580 loan on a $120,000 sales price for the purchase of a primary residence.

The actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

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VA Refinance Mortgage

The Veteran's Administration Refinance Loan* can be a very simplified process and requires much less paperwork to complete. Refinancing your existing VA mortgage may save you on your monthly payments by reducing your interest rate.

VA Refinance loans offer:

On most rate and term refinances, no appraisal is required
No income verification is required to qualify
No out-of-pocket costs
Expedited closing process

*Also known as an Interest Rate Reduction Refinancing Loan (IRRRL). VA qualification required. Credit eligibility required.

USDA Mortgage

The USDA mortgage is a 100% financing program for qualifying properties and borrowers. They provide competitive rates in rural communities.

USDA loans offer:

No down payment required
Fixed interest rate
Terms up to 30 years*
Loan amount up to 101% of appraised value to include a 1% funding fee
Seller can contribute up to 6% in closing costs and pre-paids
Purchase of primary residence

*Sample payment: Assumes credit score for borrower is 740 or higher and 30-year term. At a 4.000% interest rate, the APR for this loan type is 4.561%. Rate as of 5/29/17. The payment schedule would be about 360 payments of $613.75 at an interest rate of 4.000%. This payment schedule is based on a $121,212 loan on a $120,000 sales price for the purchase of a primary residence. The monthly payment amount quoted includes the annual fee premium. The annual fee is required for most USDA/Rural Housing loans. The monthly payment for the annual fee is calculated based on the average annual outstanding balance and will vary from year to year. The actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Home Equity Credit Lines

Home Equity Lines of Credit let you borrow money using the equity in your home as collateral. Unlike almost any other consumer loan type, the interest on a home equity loan or HELOC may be tax-deductible (consult your tax advisor).

Home Equity Credit Lines offer:

Payment terms up to 20 years*
Lender credit towards closing costs
Competitive rates
No origination fee
No application fee

*Sample payment: Assumes credit score for borrower is 740 or higher. A typical Home Equity Line of Credit as of May 29, 2017 with a 4.00% APR, and $30,000 financed for 20 years, is approximately $181.79 per month. Home equity products do have closing costs, such as an appraisal and attorney’s fees.

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Land Loans

Keesler Federal offers two loan options to help you purchase land for building, investment or recreation. With great rates and flexible terms, obtaining that perfect property to build your dream home is now within your reach.

Keesler Federal land loans offer:

Loan amounts from $10,000 up to $250,000
Up to 90% LTV
12-Year Term

Variable Rate Sample payment for rate of 4.50% APR on $50,000 for 144 month term is about $450.00 per month. Variable rate land loans will adjust annually with a maximum adjustment of 2% per year and a floor of 3% and ceiling of 18%. Actual rates vary based on credit history. Example does not include taxes.

Fixed Rate Sample payment for rate of 5.00% APR on $50,000 for 144 month term is about $462.45 per month. Actual rates vary based on credit history. Example does not include taxes.

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