Short-term savings with long-range possibilities

  • MSGCU offers five-year and seven-year Adjustable-Rate Mortgages (ARM) with payments amortized for 30 years
  • Initial interest rate remains in place for the initial fixed period, and then adjusts annually
  • Local Mortgage Consultants offer step-by-step guidance and free consultations
  • Ideal for borrowers looking for short-term financing
  • No prepayment penalty
  • Apply online, in person, or with our convenient mobile app

If you're looking for a low-cost, short-term mortgage but want the flexibility to keep the loan longer, a Michigan Schools and Government Credit Union ARM might be right for you. It's important to know that Adjustable-Rate Mortgages have caps that protect you from big increases in interest rates. For more information, contact our Mortgage Experts.

Adjustable-Rate Mortgage
ARM loans amortized for 30 years. Here is just an example of the great rates we currently offer.
TermRates as low asPointsAPR*Payment*
5-Year ARM 4.375% 0.269% 6.296% $748.93
7-Year ARM 4.625% 0.269% 6.086% $771.21


*APR = Annual Percentage Rate. The initial payment is based on a $150,000 loan on a $250,000 property in Michigan, amortized for 30 years. This assumes the loan is for the refinance of a single-family residence that will be used as a primary residence and that the applicant has a credit score of 740 or higher. The payment consists of principal and interest and does not include taxes and insurance premiums. The actual payment amount will be greater. After the initial fixed period, the principal and interest payment can change every year for the remaining life of the loan. View payment details.

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Adjustable-Rate Mortgage Payment Details

5-Year Adjustable-Rate Mortgage

At a 4.375% initial interest rate, the Annual Percentage Rate (APR) for this loan type is 6.296%. The monthly payment schedule based on current market conditions is listed below. The interest on this mortgage can change after consummation. Your actual payments will be based on market conditions at the time of interest rate changes per the terms of your loan agreement.

5-Year Adjustable-Rate Payment Details
Number of PaymentsInterest RatePayment*
60 4.375% $748.93
12 6.375% $910.86
287 7.500% $1,005.82
1 7.500% $1,003.22


*These payments are based on a $150,000 loan on a $250,000 property in Michigan, amortized for 30 years. This assumes the loan is for the refinance of a single-family residence that will be used as a primary residence and that the applicant has a credit score of 740 or higher. The payment consists of principal and interest and does not include taxes and insurance premiums. The actual payment amount will be greater. After the initial fixed period, the principal and interest payment can change every year for the remaining life of the loan.

7-Year Adjustable-Rate Mortgage

At a 4.625% initial interest rate, the Annual Percentage Rate (APR) for this loan type is 6.086%. The monthly payment schedule based on current market conditions is listed below. The interest on this mortgage can change after consummation. Your actual payments will be based on market conditions at the time of interest rate changes per the terms of your loan agreement.

7-Year Adjustable-Rate Payment Details
Number of PaymentsInterest RatePayment*
84 4.625% $771.21
12 6.625% $925.03
263 7.500% $994.37
1 7.500% $993.29


*These payments are based on a $150,000 loan on a $250,000 property in Michigan, amortized for 30 years. This assumes the loan is for the refinance of a single-family residence that will be used as a primary residence and that the applicant has a credit score of 740 or higher. The payment consists of principal and interest and does not include taxes and insurance premiums. The actual payment amount will be greater. After the initial fixed period, the principal and interest payment can change every year for the remaining life of the loan.