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Adjustable Rate Mortgage (ARM)

Lower initial rates, affordable payments

Get lower initial rates and affordable monthly payments with an Adjustable Rate Mortgage (ARM).1


Fixed rate periods

Predictable payments with fixed rate periods of 36 or 120 months.2


No more than 2% incremental increase

Rates will never rise more than 2% at a time over the life of your loan.3


No more than 6% lifetime increase

Rates will never increase more than 6% above the initial rate. 4


Multiple options

Choose the loan that works best for you, with 10/1 and 3/3 ARM options.


Less-than-perfect credit

You can qualify for an ARM loan, even with less-than-perfect credit.


Expert local support

From origination through the life of your loan, we provide a high-success, low-stress experience.

Calculate your monthly payment5

Monthly Payment

Multiple Options

Choose your best fit

We offer ARM options:

• 3/3 ARM – Initial fixed-rate period of three years. After that, your rate will change every three years until term end.
• 10/1 ARM – Initial fixed rate period of ten years, followed by rate changes each year after the initial term.

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Predictable Payments

No surprises here

You'll never see more than a 2% individual increase, or more than a 6% total increase, over the life of the loan.

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Trust is a top reason members choose Members Mortgage.

— 2023 Mortgage Processing Survey

How it works

It's easy to get an ARM Loan.

  • 1

    Complete an application

    Apply online, by phone, in person, or through video banking.

  • 2

    Get approved

    We'll let you know if you're approved or pre-qualified for a loan.

  • 3

    Use the funds

    Use the loan funds to purchase or refinance a home.

Apply now

Have questions? We're here to help!


Schedule an appointment


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Give us a call


Call 218-625-8580

Make home ownership happen


Our Adjustable Rate Mortgage offers low rates and predictable payments, helping you realize your dreams of home ownership.


Apply now


1 An Adjustable Rate Mortgage is a variable rate loan product. During the initial term of the loan the rate will remain unchanged; after that, the rate is subject to adjust at a set interval.
2 An example of a typical 10/1 adjustable rate mortgage with a 20% down payment: Annual Percentage Rate (APR) of 9.237% for initial 120 months with monthly payments of $8.05 per $1,000 borrowed followed by 240 monthly payments calculated with an APR based on the market index plus a margin. After the initial fixed period of ten years, the interest rate and payment amount may change each year. APR referenced in the example is the lowest rate available as of February 22, 2024 and may vary based on loan amount, borrower credit, loan to value, property type, occupancy, etc. Terms and rates may change at any time. APR may increase after consummation.
3 Following the initial term, rate adjustments will occur as outlined in the loan documents with a 2% rate adjustment cap for each adjustment.
4 Following the initial term, rate adjustments will occur as outlined in the loan documents with a 6% rate adjustment cap over the life of the loan.
5 The calculator is provided for informational purposes only and any calculation is solely an estimate based on the information you provide. Calculations do not include amounts for taxes and insurance premiums, if applicable, and your actual payment obligation may be greater. Contact Members Cooperative Credit Union at 1-800-296-8871 for more information.

Members Cooperative Credit Union lends to Minnesota and Wisconsin residents only and property used as mortgage security must be within the states of Minnesota and Wisconsin. Membership and loan approval required. Restrictions apply.

Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at any branch office regarding the locations where HMDA data may be inspected.

Use of online or other electronic services may require specific hardware and software and your agreement to certain terms and conditions. Access is subject to the availability of the internet, cellphone and network coverage and plans, and typical service interruptions stemming from your providers or the credit union’s providers.

Video Banking

Juneteenth Holiday Closure All offices will be closed Wed., 6/19, for Juneteenth. β€―ATMs, mobile services, and online banking are available 24/7. View all our holiday closures.