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  Holiday Closing & Important Update
We will be closed on Saturday, July 4th in observance of Independence Day. For your convenience, account information can be accessed 24/7 through our online banking, mobile banking and telephone banking platforms. Normal business hours will resume on Monday, July 6th. Read More

Our financial centers are now reopened with regularly scheduled hours for lobby and drive-up service. Spencer customers will now have full access to the lobby area of all our financial centers. We understand there are still concerns when visiting public spaces, such as these. To ease such concerns we have implemented a number of new safety practices and protocols that you will notice upon visiting our financial centers, all of which are designed to ensure a safe and secure environment for everyone that visits our bank. Read More

 

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