Important Notice
Javascript must be enabled to view this website, please enable Javascript and reopen our website.
Skip to main content
  COVID-19 Branch Operations Update

Health and safety remain our top priorities, both for our customers and team members. As a safety precaution to Covid-19, our lobbies will be temporarily closed and available by appointment only beginning Tuesday, January 4, 2022.  Drive-up services will operate during regular business hours. 

We apologize for the inconvenience and thank you for your cooperation and understanding.

Adjustable Rate Mortgage

A Spencer Adjustable Rate Mortgage (ARM) is ideal when you only plan on keeping your home for 5-7 years or when you would rather pay less now, but expect your income to increase in the future. ARMs usually start out with a lower interest rate than fixed rate home mortgages and remain constant for a specified amount of time. After the initial period, the rate is adjusted for a specific period of time, and can go up or down according to the index, margin and adjustment period/lifetime caps stated.

Adjustable Rate Mortgage features:

  • Potential Tax Benefits (consult your tax advisor)
  • Low Monthly Mortgage Payments
  • Lower Interest Rates than Traditional Fixed Loans
  • Annual/Lifetime Cap on Interest Rate Adjustments

Apply Now

Today’s Rates

Contact Us Today

Jim Harilaou

Mortgage Sales Representative
NMLS# 519891
1-201-703-3800 ext. 8336