Personal Banking

Looking for a lower rate and don't mind fluctuating payments?

If you're looking for a lower rate and don’t mind if your payment changes during the life of the loan, an Adjustable Rate Mortgage might be right for you.

Couple meeting with advisorAdjustable rate mortgages feature an interest rate that is lower than fixed rates for a period of time and then may change annually based on a specified index rate.

ARMs are an attractive option if you expect a rapid increase in your income in the next few years and wish to maximize your purchasing power now.

We offer a wide range of ARMs including:

ARM Product Feature
1 year ARM The rate* on this loan may change every year.
3/1 ARM This loan has a fixed rate* for the first 3 years and then may change every year thereafter. This loan is attractive to those borrowers who want a lower rate than the fixed loans offer or who believe that interest rates may drop over the next 3 years.
5/1 ARM This loan has a fixed rate* for the first 5 years and then may change every year thereafter.
7/1 ARM This loan has a fixed rate* for the first 7 years and then may change every year thereafter.
10/1 ARM This loan has a fixed rate* for the first 10 years and then may change every year thereafter.

Today's Rates

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*All loans subject to credit approval. Property must be located in an approved census tract and/or qualified applicant must be at or below 80% of area median income. Borrower(s) must be first-time homebuyers or have no current ownership in any other real estate. Owner-occupied primary residences only. Additional restrictions apply for 2-family residences. *Washington Trust will match up to 1.5% of a 3% downpayment as a non-repaid grant. **Washington Trust will waive the standard underwriting and processing fees..