#bank loan rates
Our fixed-rate mortgages feature different interest rates and monthly payments that remain steady throughout the term of the mortgage. That way you can enjoy both the safety and the security of a mortgage immune to fluctuating rates.
This loan gives you the lowest possible fixed monthly payment.
- Larger interest deductions
- Lower monthly payment
This loan provides the same security, steady interest rates and monthly payments while helping you pay for your home in less time.
- A shorter loan maturity
- Faster equity build-up
- Lower interest costs
Citizens Bank’s Adjustable-Rate Mortgages (ARM) change as prevailing yields on U.S. Treasury Securities change and reflect competitive costs of borrowing money. Generally speaking, when interest rates go up, your monthly payments go up; when interest rates go down, so do your monthly payments.
Perhaps the biggest advantage of our adjustable-rate mortgages is that your initial interest rate and monthly payment are usually lower than through other financing options. In addition, we limit the amount of rate increases not only at review time, but also with a low lifetime rate cap.
1/1 Year ARM
- Initial Rate fixed for one year, adjusting each following year.
- Maximum annual adjustment is 1%. Lifetime cap is 6%
3/3 Year ARM
- Initial rate fixed for three years, adjusting each 3 year term thereafter.
- Maximum term adjustment is 2%. Lifetime cap is 6%.
5/5 Year ARM
- Initial Rate for five years, adjusting each 5 year term thereafter.
- Maximum term adjustment is 3%. Lifetime cap is 6%.
To speak with a loan officer, call 1-319-462-3561 or 1-563-886-2136 or send us an email to let us know you’d like us to contact you.