Save Money on Your Mortgage and Closing Costs!
You have money saving options even when interest rates are rising, with our 10/1 Adjustable Rate Mortgage that offers up to $3,000 toward your closing costs!*
Save with an Adjustable-Rate Mortgage (ARM) that Pays up to $3,000 in Closing Costs
The Suncoast 10/1 ARM locks in a low initial rate for 10 years, helping to keep your monthly payments lower than you’d experience with a traditional 30-year fixed rate mortgage at a higher rate. Plus, this program pays up to $3,000 toward your closing costs.*
CLOSING COSTS. WE'LL PAY UP TO
To get pre-approved, it’s simple! You can apply online anytime or call our Mortgage Contact Center at 800-999-5887, extension 87008 or have one our consultants contact you to discuss your best home financing options at Suncoast.
How to Get Started
Ready to apply? It's easy! Follow the steps below:
If you want to keep your monthly payments lower to save money, a 3/3 ARM is an excellent choice! When you’re ready to learn more about how this program can help you save, we’re here to help you get a low rate.
Use the button below to have a Suncoast consultant contact you.
Need to connect sooner?
Call 800-999-5887 ext. 87008 (English) or 86309 (Spanish)
If you’re ready to buy your first home, we want to help you save money. Suncoast has enhanced our First Time Homebuyer* program to expand opportunities for new homebuyers, including paying up to $3,000 for your closing costs!
Use the button below to have a Suncoast consultant contact you.
Need to connect sooner?
Call 800-999-5887 ext. 87008 (English) or 86309 (Spanish)
Other Program Benefits
Every adjustable-rate mortgage option from Suncoast is designed to help you get the low rate you need to save money on your home purchase or refinance. We’re here to help you save!
Easy Preapproval Process
Preapproval can expedite the home-buying process and be the difference between getting the home of your dreams and watching another bidder walk away with it.
Lower Rates and Monthly Payments
Save money with an adjustable-rate mortgage that offers a lower interest rate than most fixed rate mortgages. Plus, keep your monthly payments lower to save even more.
Lock in Your Rate†
Our Lock and Shop feature lets you lock your interest rate for 60 days when you get preapproved for a mortgage. If rates go up, you’ll keep the locked rate. If rates go down, you’ll get the lower rate.
Frequently Asked Questions (FAQs)
With an adjustable-rate mortgage, you can save money with lower interest rates and lower monthly payments. You also may be able to qualify for a larger loan if you choose an adjustable-rate mortgage.
The biggest difference between these two mortgage types is that a fixed rate mortgage has a consistent interest rate, and an adjustable-rate mortgage has a variable interest rate that changes over time.
However, there are also differences in the interest rate itself. Fixed rate mortgages are typically a higher interest rate than the initial period of an adjustable-rate mortgage.
A cap is the maximum amount the interest rate of an adjustable-rate mortgage can adjust to.
There is often an initial cap that indicates the highest an interest rate could potentially reach for each adjustment. There may also be a lifetime cap that indicates the very highest an interest rate can go during the life of the mortgage.
The first number in an adjustable-rate mortgage refers to how many years you’ll get the lower initial interest rate for. The second number often refers to how often the interest rate may change after that initial period.
For example, in a 10/1 ARM, the “10” means that you’ll get to keep the initial interest rate for 10 years and the “1” means that the interest rate may change once a year after the initial 10 years have passed.
You may benefit from an adjustable-rate mortgage if you:
- Want lower payments during the initial years of your loan
- Expect to move into a different home within the next 10 years
- Plan to pay off your mortgage within the next 10 years
- Would like to maximize your buying power
- Expect your income to significantly increase in the coming years