7/1 and 10/10 Adjustable Rate Mortgage (ARM) Loans
Looking for an Adjustable Rate Mortgage in Michigan? People Driven Credit Union offers 7/1 ARM and 10/10 ARM loan options that may help lower your initial monthly payment with a competitive introductory rate. If you plan to move, refinance, or pay off your loan before the rate adjusts, an ARM may be a smart fit for your home financing goals. Explore flexible ARM loan options from PDCU and find the mortgage that fits your needs.
PDCU adjustable rate mortgage products
- Home Possible® (Freddie Mac)
- HomeReady® (Fannie Mae)
- Super Conforming
- FHA
- VA
- RD/USDA
- Zero Down Purchase Program
- Doctors Advantage 7/1 ARM Mortgage
- Mortgage Refinance
Not sure which mortgage product is right for you? We’re here to help. Connect with our Mortgage Loan Officer.
Important Considerations
- Rate Adjustments: After the fixed-rate period, your interest rate may change every 12 months, affecting your monthly payment.
- Future Refinancing: While the initial lower rates are attractive, consider your long-term plans. If rates change significantly, refinancing may be an option.
Why choose a PDCU ARM loan?
- Lower Initial Interest Rates: Reduced monthly payments during the fixed-rate period
- No Prepayment Penalty: Refinance or pay off your mortgage early without penalties
- Easy Online Application: User-friendly online application makes securing your loan quick and convenient
Meet Our Mortgage Loan Officer
Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.
Michelle Dzon
Member First Mortgage, LLC (MFM)michelle.dzon@memberfirstmortgage.com
Connect with Michelle
616-301-1714 | NMLS ID: #401292 | People Driven Credit Union NMLS ID: #776727
Eligibility
Our 7/1 and 10/10 ARM loans are available for home purchases and mortgage refinances.
Membership and eligibility requirements apply, with approval subject to application, credit, and property considerations. Additional restrictions may apply.
Ready to get started? Apply online, request a personalized rate quote, or call 616-301-1714.
See what fits: Adjustable Rate Mortgage comparison
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- Initial Rate Period: Enjoy a fixed interest rate for the first seven years.
- Adjustment Period: The rate adjusts once every year after the initial seven-year period.
- Benefits: Lower monthly payments for the first seven years, ideal for those planning to sell or refinance before the rate adjusts.
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- Initial Rate Period: Enjoy a fixed interest rate for the first ten years.
- Adjustment Period: The rate adjusts every 10 years after the initial ten-year period.
- Benefits: Longer period of stable, lower payments, suitable for buyers who want a predictable payment for a decade.
Get a free quote from award winning experts
Our experienced loan officers will walk you through the process. People Driven Credit Union was named a 2026 MemberXP Best of the Best Award winner for Best Mortgage Loan Experience. Whether you are buying or refinancing, we are here to help you move forward.
Get a Free Quote Call
Frequently asked questions
Meet Our PDCU Mortgage Specialist
Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.
Michelle Dzon
Member First Mortgage
michelle.dzon@memberfirstmortgage.com
Connect with Michelle
616-301-1714 | NMLS ID: #401292
Private mortgage insurance, or PMI, is insurance that helps protect the lender if a borrower stops making payments on a conventional mortgage loan. PMI is typically required when your down payment is less than 20% of the home’s purchase price or original value.
When PMI is usually required
PMI is most commonly required on a conventional mortgage when you put less than 20% down. It increases the cost of the loan, but it may also help you qualify for a mortgage sooner if you do not have a larger down payment.
When PMI may be removed
In many cases, you can ask to remove PMI once your loan balance reaches 80% of the home’s original value and you meet the lender’s requirements. In general, PMI is automatically terminated when your loan balance is scheduled to reach 78% of the home’s original value, as long as your loan is current.
Need help?
If you have questions about PMI or your mortgage options, connect with a mortgage loan officer for personalized guidance.
An NMLS ID is a unique identification number assigned to mortgage loan originators and mortgage lending institutions through the Nationwide Multistate Licensing System & Registry. It helps identify the person or company handling your mortgage and supports transparency in the mortgage process.
Why it matters
An NMLS ID allows consumers to verify the identity and licensing information of a mortgage professional or lender. It can also help you confirm who you are working with when you review mortgage advertisements, emails, disclosures, and loan documents.
Where you may see it
You may see an NMLS ID on mortgage websites, marketing materials, email signatures, loan paperwork, and other mortgage-related communications. If you want to look up a mortgage professional or lender, you can search the NMLS Consumer Access website.
Need help?
If you have questions about an NMLS ID or want help identifying the mortgage professional working with you, call 844-700-7328 during business hours.
When you apply for a mortgage with People Driven Credit Union, you will generally need documents that help verify your identity, income, assets, employment, and insurance information. Having these items ready can help move your application along more smoothly.
Documents you may need for a PDCU mortgage application
- Copy of your driver’s license or state-issued ID, to verify your identity and legal name
- Last 2 years of W-2 forms, to review your employment history and income consistency
- Most recent 30 days of pay stubs, to confirm your current income
- Last 2 years of federal tax returns, including all schedules, to help review your full financial picture
- Most recent 2 months of bank statements, including all pages, to verify assets, down payment funds, and available reserves
- Contact information for your homeowner’s insurance agent, if applicable, to help prepare for closing and insurance requirements
Why these documents matter
These documents help People Driven Credit Union review your mortgage application and determine whether you meet program and underwriting requirements. Depending on your loan type or financial situation, additional documentation may also be requested.
Helpful tips
- Gather your documents before you start the application
- Make sure bank statements include every page
- Use clear scans or photos if you are uploading documents
- Be ready to provide additional information if requested
If you have questions about what to prepare or want help getting started, connect with a mortgage loan officer for additional guidance.
To check the status of your loan application, contact People Driven Credit Union at 248-263-4100 during business hours or reach out to your assigned loan specialist if you have their contact information. Be ready to verify your identity and share details such as your name, member number, or application number so we can review your application with you.
When you check your status, it is also a good idea to ask whether any additional documents or information are needed to keep your application moving. Review times can vary based on the loan type and the information required, so contacting us directly is the best way to get the most current update on your application.
Disclosures
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Equal Housing Lender. Member First Mortgage, LLC (MFM) NMLS ID# 149532. All loans are subject to credit approval. Terms and conditions apply. Mortgage insurance may be required based on borrower qualifications. Program availability is subject to change without notice. |
*Rates may vary, and payment may increase after consummation.
*Available on all purchase or refinance applications for a primary residence using a conventional 7/1 or 10/10 ARM loan product with People Driven Credit Union. This is not a commitment to lend. All lending products are subject to credit and property approval. Additional restrictions may apply. Refinancing an existing mortgage loan may result in higher total finance charges over the life of the loan. Rate may increase after consummation.
People Driven Credit Union is an Equal Housing Opportunity Lender NMLS #776727.
All other trademarks are the property of their respective owners.
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Get your free quote online today or call 1-855-589-2146.*See disclosures below.
