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7/1 Adjustable Rate Mortgage


If you’re purchasing a new home in eastern MA, Belmont Savings’ 7/1 ARM offers:

  • Fixed rate at 2.75% for the first 7 years and adjusts annually for the remaining term*
  • Jumbo or conventional options
  • Single family home options
  • No points
  • Personal service
  • In-house decision making

Ask us about our investment property options too.

 Apply Online


For more information, call:

Rick Capobianco
VP, Manager of Residential Lending
NMLS ID# 39923
Email:  rick.capobianco@belmontsavings.com
Phone: 781-290-7157
Available for Mortgage discussions both weekdays and weekends

Or fill out the form below and someone will reach out to you shortly.

*The Adjustable Rate Mortgage rate of 2.75% as of 9/30/16 is fixed for 7 years (84 months) and adjusts annually for the remaining years 8-30 (276 months). The rate is variable and subject to change after the initial term of 7 years. The initial payment on a 30-year $100,000, 7-year Adjustable-Rate Loan at 2.75% and 80% loan-to-value (LTV) is $408.25 with 0 points due at closing. The Annual Percentage Rate is 3.15%. After the initial 7 years, the rate will adjust to the fully indexed rate which is the then current index plus the margin. For example, using the current fully indexed rate of 3.25% as of 6/27/16, your principal and interest payment adjusts to $429.61. The index and the margin will adjust annually for the remaining term of the loan. This loan has 5/2/5 caps, which means that your interest rate may not increase or decrease by more than 5% at the initial adjustment, increase or decrease by more than 2% at each subsequent annual adjustment and increase or decrease by more than 5% over the life of the loan. Payment does not include taxes and insurance premiums. The actual payment amount may be greater. Available for single family owner occupied residences. Minimum 740 credit score. Maximum loan amount $1,000,000.00 based on our current Credit Policy. Property insurance required. Flood insurance may be required. Subject to credit approval.

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