1st Mortgage 5/5 ARM Note

These mortgage loans are kept "in-house". Basically, we secure the rate for 5 years, after that, simply rewrite the note to current ARM rates and secure for another five years. This is a great option if you are not planning to stay in the home long term. Given the fact they are kept "in-house", means less hassle, less paperwork, and less cost for you.

Loan Type  Rate             APR*
5/5 ARM As low as: Contact Credit Union for current rates.


*APR is Annual Percentage Rate.  APR based on a $100,000.00 loan amount and 90% Loan-to-Value.  Rates are subject to change.

Central Wisconsin Credit Union

SAFE Act Registration Disclosure

Secure and Fair Enforcement for Mortgage Licensing Act

The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), requires credit union mortgage loan originators and their employing institutions to register with the Nationwide Mortgage Licensing System & Registry (NMLS). Each employee of a credit union who acts as a mortgage loan originator must register with the Registry, obtain a unique identifier, and maintain this registration in accordance with the requirements of the S.A.F.E. Act. Below is a listing of the registered mortgage loan originators of Central Wisconsin Credit Union.

  • Nancy Breitenstein - NMLS ID #772915
  • Sara Mrozek - NMLS ID #780249
  • Kaye Niemi - NMLS ID #772918
  • Nicholas Helbach - NMLS ID #1765849
  • Central Wisconsin Credit Union - NMLS ID #403332

One of the objectives of the SAFE Act is to provide consumers with easily accessible information at no charge regarding mortgage loan originators. The unique identifier will enable consumer access to an individual mortgage loan originator's profile stored in the Registry. The link to the consumer access site is: http://www.nmlsconsumeraccess.org.


Question: What exactly is a "ARM" note?

Answer: Our five year ARM note works this way: Your rate is locked in to a five year note. Your monthly payments are based on a 30 year amortization. So what you have is 60 monthly payments and the 61st payment ( the "ARM") which gets refinanced at the end of five years. You enjoy a lower monthly payment, yet you are not bound to long term financing.

Question: Why would I want a 5/5 ARM loan over a long term fixed rate?

Answer: There are many reasons to go with a 5/5 ARM note. First, we keep all ARM notes "in-house", meaning we service these loans and they are not sold on the secondary market, which allows us to be more flexible with the terms and conditions of the loan. If you are not planning on staying in your current home long term, then a 5 year note may be all you need.

Question: How does a 5/5 ARM work?

Answer: A 5/5 ARM is an adjustable rate mortgage that has a fixed mortgage rate for the first five years of a 30 year loan term.  After that, the mortgage rate becomes variable and adjusts every 5 years.

Question: How much down payment do I need for a 5/5 ARM note?

Answer: Like we said earlier, we can be more flexible on ARM notes. We will finance up to 90% of the appraised value, which means you only need 10% down, and not 20% like other programs.

Question: Do I have to escrow my property taxes and homeowners insurance?

Answer: No. We do not require tax/insurance escrows, however, you may open a tax savings account and escrow on your own. The tax account pays the same dividend rate as Regular Shares and you have access to your funds at any time. We DO require taxes and insurance to be paid by the borrower and proof of payment supplied to the Credit Union for your files. Nonpayment of taxes and insurance may cause your loan to be in default.

Question: How far out can I amortize my payments on a 5/5 ARM?

Answer: We can amortize your loan payments out to 30 years.