Mortgage Loans

Adjustable-Rate Mortgage (ARM)

Buying a home sure can stretch your budget. If you're looking to reduce your monthly payments until things settle down a bit, a mortgage with a lower initial rate might be the way to go.

Our ARMs can lift you into the home you've always wanted.

Perhaps you expect to move again in a few years. Perhaps you believe your household income will rise as your career takes off, whether you're in Wisconsin, Michigan, Illinois or elsewhere. In either case, a CoVantage Credit Union ARM loan might work for you. The 30-year home loans offer attractively low rates for a certain time period. After that, your rate can be adjusted whenever national interest rates change. But don't worry, our loan terms limit the size of any increase.

Adjustable Rate Mortgage Rates

Annual Percentage Rate (APR) effective October 20, 2026 and subject to change. Rates and monthly payments are our lowest available. Rates and monthly payments are based on a $100,000 loan amount, 60% Loan-to-Value (LTV) purchase transaction. Please be aware that individual rates and terms may vary based on down payment, LTV, credit history, purpose of the loan, property type, and credit score. See all rates.

In-House Adjustable Rates

Effective Date: October 20, 2026
Rate Term APR As Low As Monthly Payment Per $1000
6.38% 1/1 ARM 7.25% 6.24
6.50% 3/1 ARM 7.11% 6.32
6.63% 5/1 ARM 7.04% 6.40
7.50% 10/1 ARM 7.57% 6.99

Payments can be made more frequently on personal loans, vehicle loans, or credit cards. Mortgage payments are only accepted monthly.

CoVantage will mail a packet with loan information to every borrower, so watch your mailbox! If you provided an email address at the dealership, you will also receive an email with that information approximately one week after the loan closed. Please note that the loan may not close until one to three days after you sign at the dealership.

You can use MyCoVantage digital banking and mobile app to set up automatic payments from your CoVantage checking or savings account OR from another financial institution (also called an External Transfer). Set-it-and-forget-it using the Transfer/Pay feature today!

To set up a transfer from another financial institution within MyCoVantage, navigate to the Transfer/Pay tab, then select Manage External. Before you can set up a one-time or recurring transfer, you will need to Add a New External Account and create an account nickname you can use to reference the account within digital banking.

Once added, you will need to verify the account by confirming two small amounts to the external account. Then log into MyCoVantage and go back to the Transfer/Pay tab, select Manage External and enter the trial deposit amounts that were sent to the external account. After completing this step, the external account will be ready to use within Transfers.

Please note: External Transfers are not immediate, they are processed in 1 to 3 business days from the date scheduled, provided they are scheduled by 4pm. For example, if you have a loan payment due on Friday, January 15, you will want to schedule the transfer at least 3 business days prior, Tuesday, January 12, to ensure the funds are received by that date.

Unfortunately, if your loan payment becomes 30 days past due, your status as a CoVantage “Member in Good Standing” is jeopardized, which could also affect any digital banking services.  In addition, late payments on loans and mortgages may result in a late fee or negative reporting to credit bureaus. To avoid late payments, set up automatic payments using MyCoVantage digital banking and mobile app.

As a financial cooperative, we depend on all our members to contribute to the credit union and uphold their obligations. It’s working together and sharing our resources that allow us to offer lower loan rates, higher savings rates, and the quality products and services that are a part of the credit union experience. If you are having financial difficulties, please contact our Member Solutions team at 800-398-2667, ext. 2404 to discuss repayment options.