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Two Step Advantage (15/15 ARM)

Two Step Advantage (15/15 ARM)

Boost your buying power with our Two Step Advantage (15/15 ARM).

Features of the Two Step Advantage (15/15 ARM) include:

  • Combines the low rate of an ARM with the stability of a fixed rate mortgage.
  • Only 1 interest rate adjustment during the entire life of the loan.  
  • Available on purchases and refinances with loan amounts from $417,001 – $2 million.
  • Eligible for purchase or refinance of a primary residence or second home.
  • 20% down payment for 1-unit properties and condos

The FM Lending Two Step Advantage loan may be right for you if:

  • You are planning to move again in the next 15 years.
  • You are considering a 15 year loan term but are concerned about the higher payments.
  • You want the lower payment offered by an ARM product but are concerned about the risks associated with an adjustable interest rate.

 Download in printable format here

Get pre-approved for a Two Step Advantage:


Available on purchases and refinances up to $2 million for 1-2 unit properties. Not available for applications without a property address (pre-purchase). Investment properties are not eligible. The initial rate is fixed for 15 years (180 months). When the rate adjusts, the new rate will become the then-current index (weekly average yield on US Treasury securities adjusted to a constant maturity of 10 years) plus a margin of one percentage (1.000%) point, rounding to the nearest 0.125%. The new rate cannot exceed 6.000% above the initial rate or cannot be lower than the floor rate of 1.000%. Other restrictions may apply.
All first mortgage products are provided by Prosperity Home Mortgage, LLC dba FM Lending Services. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Also licensed in Delaware, District of Columbia, Maryland, North Carolina, Pennsylvania, South Carolina, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at
©2014 Prosperity Home Mortgage, LLC dba FM Lending Services. All Rights Reserved. 

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