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No Closing Costs
Other adjustable rate mortgages change rates each year after the introductory term. The Sweet 15 adjusts only once and saves you money now. We even sweeten the deal with no closing costs!*
Sound pretty sweet? Apply now to see if the Sweet 15 Mortgage is right for you!
The Sweet 15 Mortgage from Visions blends the low rates of an adjustable rate mortgage with the stability of a fixed.
You purchase a home for personal stability and financial equity. It's a big investment, and one of the smartest you can make in your life.
Visions understands the mortgage you commit to is just as important as the home you choose. There's the conventional fixed-rate mortgage that most consider, but did you know there are more options available than ever before?
This 30-year loan starts with a low interest rate for a set term of 15 years and then adjusts only once in the 16th year. That determines your monthly payment for the remaining 15 years of your mortgage.
What's more? The risk of monthly payment shock is lower than similar adjustable rate mortgages. That adjustment in the 16th year is capped at 2% above the market rate at the time. This gives you assurance that your rates – and bill – remain reasonable and predictable throughout the loan.
Why choose an adjustable rate mortgage? Not only do you get a reduced interest rate to start, there's also the possibility it could be even lower at the end of the first 15 years. If not, you're still protected by our caps.
Many adjustable rate mortgages, sometimes called ARMs, come with interest rates that change in each of the subsequent years – as frequently as every six months in some cases. Because each adjustment could mean a lower or higher payment, it's not for everyone.
So, you can trust our team to walk you through all the terms and conditions in an honest, easy-to-understand way. In fact, we promise to get you the mortgage product that's right for you.
The Fine Print
An escrow account is required when loan-to-value ratio is 80.01% or higher. If less than 80%, loan-to-value ratio is based on credit worthiness. PMI is required when loan-to-value ratio is 80.01% or higher.
Proof of home owner's insurance is required. Visions will not subordinate or agree to the assignment of any oil/gas/mineral rights lease to a third party.
* Credit union membership required with a $25 minimum deposit – certain restrictions apply. Check with a Visions Federal Credit Union representative for membership eligibility details. Promotion valid on the 15/15 Adjustable Rate Mortgage (ARM) product only. Applications are subject to standard credit criteria. New purchase or refinance. One- to four-family, owner-occupied, primary residence only. Maximum mortgage dollar amount funded is based on region and property value. Estimated savings of closing costs, which varies by geographic market and property, would be at least $3,370, including, but not limited to, the following costs: appraisal, flood determination, application fee, credit report, lender attorney fees, recording fee, title insurance, and mortgage tax. Borrowers are responsible for initial escrow setup, interim interest, owner’s title insurance, tax service fee, borrower’s attorney fees, survey, and private mortgage insurance, if applicable. Property insurance is required. Flood insurance may be required. This promotion is subject to change without notice (including the rate). Other restrictions apply. Rates are variable and can increase in the 16th year by no more than 2% points and is based on the index at the adjustment time plus the margin. Please speak with a representative for current rate information or visit visionsfcu.org/Rates/Mortgages. Cannot be combined with any other promotion or offer. Submit applications by Dec. 31, 2018. Visions Federal Credit Union is federally insured by NCUA.