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      WEOKIE: your one-stop-shop for everything homes!

      From finding the home of your dreams to financing it, closing the loan, and even insuring it... we want to make every step in your home-buying experience as easy and as affordable as possible.

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              At WEOKIE, our purpose is to build strong communities by supporting financial growth and well-being, one person at a time.

                Adjustable-rate Mortgage (ARM)

                DON’T LET RISING MORTGAGE RATES SHUT YOU OUT OF THE HOUSING MARKET!

                A WEOKIE Adjustable Rate Mortgage offers lower initial monthly payments, perfect if you're planning on selling or refinancing your home in the future.

                The 30 year 5/5 ARM is our most popular loan right now!

                WEOKIE's 30 year 5/5 ARM (Adjustable Rate Mortgage) has an initial rate as low as 3.990* for the first five years of the loan, far below current average rates on 30-year fixed-rate loans.

                We are here to help you find the right option to fit your needs. Give us a call at 405-235-3030 or apply online today.

                AdobeStock_151248668 couple with sold sign in front of house-1-1

                30 yr 5/5 ARM 3.990%*

                Get Low Monthly Payments and More Borrowing Power

                The 5/5 ARM is our most popular loan right now!

                WEOKIE's 5/5 ARM 30-Year Term (Adjustable Rate Mortgage) has an initial rate as low as 3.990% for the first five years of the loan, far below current average rates on 30-year fixed-rate loans.  It's a great way we can help you bring homeownership within reach. Our origination fee is also only $750!

                ARMs can be complex, but a WEOKIE Mortgage specialist will work closely with you to be sure to understand all the terms and conditions that can impact your payment now and in the future. 

                We want to be certain that our members have the best opportunity to make informed decisions and the Mortgage Lending Experts with WEOKIE are always available to guide you through the process.
                 
                VIEW ARM LOAN RATES AND OPTIONS
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                AFFORD YOUR DREAM HOME WITH AN ARM

                An ARM gives you more purchasing power.

                The 5/5 Adjustable Rate Mortgage Offers:

                • A LOW annual percentage rate for the first five years – currently 3.990% on the 30yr term.*
                • Rate adjustments are capped to keep your mortgage affordable.
                • Rate adjustments only occur once every five years of the 10-year, 15-year,  20-year, and 30-year terms.
                • The maximum increase of just 2% per rate adjustment (lifetime maximum adjustment varies by term)*
                • Low down payments
                • Purchase or refinance
                • Flat $750 origination fee.
                • Rate adjustments are capped to keep your mortgage affordable.

                To find out if the 5/5 ARM is right for you, contact one of our friendly, knowledgeable Real Estate Specialists at 405-235-3030.

                VIEW ARM LOAN RATES AND OPTIONS

                Not yet a WEOKIE Member? Apply Now.

                Current WEOKIE members, apply here

                *Visit https://mortgage.weokie.org/rates.asp  for current APRs and payment samples. Rates and terms are accurate as of August 12, 2022, and are subject to change without notice.

                AdobeStock_231355048  Couple unpacking cardboard boxes in their new home. Young couple.-1

                Secure a lower mortgage rate with an 

                Adjustable-Rate Home Loan

                Adjustable-rate mortgages (ARMs) have an interest rate that may change periodically depending on changes in a corresponding financial index that’s associated with the loan. When the rate changes, generally, your monthly payment will increase if rates go up and decrease if rates fall. An adjustable-rate home loan may offer you the flexibility you need if you expect future income growth or if you plan to move or refinance within a few years.

                • Enjoy lower initial interest rates with lower payments than comparable fixed-rate mortgages. This may help you build equity faster.

                • The ARM interest rate resets on a pre-set schedule, typically every 5, 10, 15, or 20 years.

                • Rates change with market shifts, and if they go down, so will your monthly payments.

                • Interest rate caps set a limit on how high your interest rate can go.

                • Up to 100% home purchase and 95% cash-out financing are available to our best-qualified borrowers.

                VIEW ARM LOAN RATES AND OPTIONS

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                What's My Monthly Payment?

                Will the size of your monthly payment pinch your pocketbook? Find out based on our most current daily rates and the amount you want to borrow.

                Our calculator will figure the monthly payment across our variety of loan options. Choose the term that is right for you!It is quick and easy!

                 
                Calculate Mortgage Payment

                WEOKIE offers ARMs that offer the best of both worlds.

                The affordable, low rate of an adjustable-rate loan, and the peace of mind that comes with a fixed-rate conventional loan.

                This is a great option for homeowners expecting to be in their homes for less than 10 years. Even with today’s low mortgage rates on 30 and 15-year fixed-rate loans, the initial interest rate on a 5/5 ARM is even lower.

                The example below illustrates your monthly savings with a 5/5 Adjustable Rate Mortgage vs a 30-year fixed mortgage. 

                 
                 

                ARM vs. fixed: Example mortgage payments1

                5/5 ARM LOAN

                30 Year Term

                $954

                Monthly Payment (not including taxes and other fees)2

                Fixed-Rate Loan 

                30 Year Term

                $1,120

                Monthly Payment (not including taxes and other fees)3

                Interest Rate: 3.990%1  5.375% 2
                Advantages:
                • INTEREST RATE ADJUSTS ONLY ONCE EVERY FIVE YEARS!
                • Up to 100% home purchase and 95% cash-out financing available to our best-qualified borrowers.
                • 2% Adjustment and Life of Loan interest rate caps.
                • Low initial interest rates.
                • Level principal and interest payments for the full term of the loan.
                • No risk that changing market conditions will increase your monthly payments.

                Best Choice If:

                • You are going to live in your home 10 years or less.
                • You want a lower payment.
                • You plan on staying in your home long-term and need low fixed monthly payments. 
                Disadvantages:
                • This is an Adjustable Rate Mortgage.
                • Special guidelines may apply to refinancing existing loans during promotion periods. 
                •  Benefits of the fixed rate are not realized until after the 10th year. (5/5 ARM is a better option if the loan is paid off within 10 years.)




                1- Monthly payment based on  $200,000 loan amount. APR = Annual Percentage Rate. Normal lending policies apply. Some restrictions apply. The offer is subject to credit review. Adequate collateral and acceptable term must be provided for all loans.   Your annual percentage rate is based on your credit history. Rate, terms, and conditions are subject to change without notice. All examples, rates, etc. are hypothetical and only for illustrative purposes. Loan payment amounts are shown for example payment only; it does not constitute an offer. Rates and terms vary due to additional restrictions, including but not limited to qualification requirements, actual loan amount, property type and condition, credit review, etc. Final rates and terms will be discussed with your loan officer. Current WEOKIE loans are not eligible for refinancing. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. FEDERALLY INSURED BY NCUA. NMLS# 442689  2- Payment, rate, and APR  calculated at the lowest rates available to well-qualified buyers for 5/5 ARM LOAN 30 Year Term at 3.990% (APR 5.073%) as of August 12, 2022. 3- Payment, rate, and APR calculated at the lowest rates available to well-qualified buyers for 30 Year Fixed-Term at 5.375% (APR 5.603%) as of August 12, 2022.

                CLICK HERE to learn more about WEOKIE Mortgage Options.
                 
                Actual APR will depend on factors the Credit Union may lawfully consider such as points, loan-to-value ratio and credit history. Specific disclosures will be provided on the application. All loans are subject to underwriting and approval of mortgage insurance, appraisal, providing adequate proof of income, verification of ownership, loan to value, and proof of homeowner’s insurance, and flood insurance if required. Tax and insurance escrows may be required.

                *APR = Annual Percentage Rate. Initial offering rates as low as 3.990% on the 30 Year 5/5 ARM Loan. The 5/5 ARM adjusts only once every 5 years. Rate is subject to increase or decrease at each adjustment once every five years. Rate adjustments are calculated using an index based on the 5 year US Treasury Index plus a margin of 2.5% then rounded to the nearest 1/8%. The current index is 2.870% as of August 10, 2022.  Quoted monthly payments do not include taxes, property insurance, or mortgage insurance. Rate is variable and can increase no more than 2 percentage points every 5 years. Rates over the term of the loan will not fall below the initial floor rate. Visit https://mortgage.weokie.org/rates.asp  for current APRs and payment samples. Rates and terms are accurate as of August 12, 2022, and are subject to change without notice.