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Before you go
An ARM typically means you’ll have a lower interest rate—and payment—for the first few years. A lower payment could fit nicely into your budget, free up funds to use elsewhere, or allow you to pay more toward the principal balance. After the fixed rate period, your interest rate could go up, down, or stay the same based on market conditions at the time, so an ARM could be a great fit if you plan on moving before the first adjustment.1
Lower initial interest rate
Spend less on interest during the first few years of the loan.
Competitive ARM rates
Save more when you lock in one of our competitive ARM rates.
Options for your initial rate period
Decide if your initial low rate stays in place for 5, 7, or 10 years. After that, it can adjust every 6 months.
Pay less during the early years of your loan.
Don’t let the word “adjustable” keep you away from a great loan. Take advantage of our competitive mortgage rates, which are usually lower than a fixed rate loan, then enjoy predictable monthly payments for the first 5, 7, or 10 years. That adds up to significant savings!
- Competitive ARM rates
- Initial periods of 5, 7, or 10 years then adjustments every 6 months
- Steady monthly principal and interest payments during the initial rate period
- Interest only options may be available
- Simple online application
- Convenient online access to manage your loan on your schedule
Let’s find the perfect mortgage for you
For many people, buying a home is the largest purchase they'll ever make, but you don't have to go it alone. Talk to the friendly, competent, and trustworthy experts at Flagstar to find a home loan solution that's perfect for you.
Apply online
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Speak with a loan advisor
We'll help you find the right loan, start your application, and answer your questions.
Find a loan advisor
Connect with a local expert and meet remotely or at a nearby branch. We'll guide you through the entire home loan process.
Manage your loan your way with MyLoans®
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Everything you need to know about home loans
Whether you're an expert or a first-timer, find the ins and outs of mortgages here. Learn what it takes to qualify for a loan, discover the different types of mortgages, and finally understand what an escrow account is for.
Why choose Flagstar?
A mortgage is more than a monthly payment. It’s the foundation of your financial future, giving you peace of mind today while still leaving room for other goals. Flagstar will help you find the right financing for your life from our full range of solutions, including jumbo and government-backed mortgages and home equity lines of credit. Whether you’re buying a home, refinancing, or tapping into your home’s equity, you can count on our decades of experience, make-life-easier technology, and simple application to support you.
Best Mortgage Lenders for First-Time Homebuyers
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Best Mortgage Lender Overall
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Simple Application Process
Apply online or over the phone
Expansive Product Set
Competitively priced conventional, government, and specialty solutions
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Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and product requirements, including loan to value, credit score limits, and other lender terms and conditions. Fees and charges may vary by state and are subject to change without notice. Some restrictions may apply. Not a commitment to lend. A loan advisor will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
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