Get flexibility and up-front savings with an Adjustable-rate mortgage (ARM)

An adjustable-rate mortgage provides a lower initial interest rate and payments than a fixed rate loan – and improves your cash flow when you first move in. Patelco offers 5, 7, or 10-year terms for an ARM. After that, your payments can increase or decrease with interest rate changes, based on the terms of your individual loan. The interest rate will cap during the adjustments and life of your loan. Depending on your situation, an ARM may be a good financial decision and can potentially save you money. It’s especially good for people who know they want to move in the near future or will pay off their mortgage loan in several years.

ARM loans are different from fixed-rate mortgage loans, which keep the same interest rate for the life of the loan.

Home sweet home loan benefits

Low rates, flexible options

Competitive rates, flexible loan programs and down payment options

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Expert advice and guidance

Personalized advice and guidance at each step – find your Home Loan Consultant

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Homebuyer resources

Search for properties, receive special discounts and more with Home Advantage

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More than pre-approved

Make offers with confidence with an upfront full credit approval

Lock while you shop

Once pre-approved, we’ll honor your rate for 30 days while you shop for a home1

On-time closings

We work fast to meet your closing deadlines on time

Purchase Adjustable Rates

Rates Effective 2/8/2023
Loan Program Amount Rate APR2
5/1 30-Year Adjustable3 $50,000 to $726,200 5.625% 6.459%
5/5 30-Year Adjustable4 $50,000 to $726,200 5.750% 5.750%
7/1 30-Year Adjustable3 $50,000 to $726,200 5.750% 6.377%
10/1 30-Year Adjustable3 $50,000 to $726,200 5.875% 6.297%
10/10 30-Year Adjustable5 $50,000 to $726,200 6.000% 6.038%
5/1 30-Year Adjustable Jumbo3 $726,201 to $2,500,000 5.125% 6.246%
5/5 30-Year Adjustable Jumbo4 $726,201 to $2,500,000 5.250% 5.538%
7/1 30-Year Adjustable Jumbo3 $726,201 to $2,500,000 5.250% 6.106%
10/1 30-Year Adjustable Jumbo3 $726,201 to $2,500,000 5.375% 5.956%
10/10 30-Year Adjustable Jumbo5 $726,201 to $2,500,000 5.500% 6.248%

Mortgage Calculator

How much home can I afford? (Below, “Monthly child support payments” refers to child support payments made as a monthly expense, not to income from child support.)

Frequently Asked Questions

Connect with a Home Loan Consultant

Buying a home is an important milestone and one of the biggest financial decisions you’ll make. But it can be stressful if you’re unsure of what to expect.

Our Home Loan Consultants will answer all of your questions so you’re well prepared and informed every step of the way.

Whether it’s your first home, a vacation property or an investment purchase, our Home Loan Consultants will meet with you to discuss your plans and goals.

They’re located locally and have a unique understanding of the Bay Area and Sacramento areas.

Take advantage of dealing with a local expert instead of one across the country.

Dreams come true with affordable home loans
Whether you're looking to buy your first home or need more space for your growing family, we can help make your home ownership goals a reality. Our expert Home Loan Consultants are standing by to help you every step along the way. Feel free to contact us at 800.358.8228 (select 4 from the main menu) or start the process online and we’ll be in touch.

Home Buying Basics

Learn more through our Financial Wellness library.

1 Lock and Shop program is available for 1st mortgage Jumbo loan purchase transactions only. Must have a home loan application with Patelco to lock in a rate. Patelco will honor your rate up to 30 days from the date it is locked. Once a fully executed purchase contract is received, the rate will prevail until loan funding.

2 APR = Annual Percentage Rate. APRs are based on the following:

  • Conforming: Loan amount of $726,200 + closing costs
  • Jumbo: Loan amount of $1,500,000  + closing costs
  • Mortgage rates shown are based on a 30-day lock for purchase transactions

Rate shown at 60% loan-to-value (LTV), owner-occupied purchase with excellent credit and no subordinate financing. Your rate may be different than what is shown, there are pricing adjustments on certain scenarios. Please use the rate calculator on our mortgage application site to receive a better estimate for your scenario. Rates, terms, conditions, and availability are subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an offer or commitment to lend. Loans are subject to credit and property approval. Other conditions and restrictions may apply. Hazard insurance may be required. NMLS ID Number is 506373.

3 The index is the weekly average of the 1-year US Treasury securities adjusted to constant maturity of one year, as made available by the Federal Reserve. The caps are 2% annually and 6% lifetime based on the initial rate. The current index is 4.68%. Your rate may be different than what is shown.

4 The index (for 5/5 product) is the weekly average of the 5-year US Treasury securities adjusted to constant maturity of five years, as made available by the Federal Reserve. The caps are 2% every adjustment and 5% lifetime based on the initial rate. The current index is 3.63. Your rate may be different than what is shown.

5 The index (for 10/10 product) is the weekly average of the 10-year US Treasury securities adjusted to constant maturity of ten years, as made available by the Federal Reserve. The caps are 3% every adjustment and 6% lifetime based on the initial rate. The current index is 3.52. Your rate may be different than what is shown.