15/1 Adjustable-Rate Mortgage

“I want to lock down a good mortgage rate for a while, but don’t need any 30-year guarantees.”  
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Buying a house is pricey, even when you’re in an affordable market like Pittsburgh. One way to make things a little more reasonable is with Clearview’s 15/1 adjustable-rate mortgage. You’ll get to enjoy a lower initial interest rate for a set period of time. After that, the rate could go up or down, and will continue to adjust periodically until you pay off your home loan.

Advantages of a 15/1 Adjustable-Rate Mortgage
  • Enjoy lower initial interest rates with lower payments than comparable fixed-rate mortgages
  • Fixed rate for the first 15 years, then becomes a 1-year adjustable interest rate
  • 1% rate change cap for every change, with a 6% maximum cap over the entire term
  • Good choice if you plan to own your Pennsylvania home for up to 18 years, you expect your household income to rise in future years, or interest rates to fall or remain the same.
  • Refinancing options available
Need to make a payment on your mortgage or have a question about your first mortgage? Contact Midwest Loan Services at 1-800-262-6574 or visit their website.
What's included?
  • Interest rate caps set a limit on how high your rate can go
  • Competitive interest rates
  • Friendly guidance every step of the way
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Learn more- Mobile Banking