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11 Best Adjustable-Rate Mortgage Lenders of 2026
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11 Best Adjustable-Rate Mortgage Lenders of 2026

Taylor Getler
Johanna Arnone
Taylor Getler
+1
Written by 

Taylor Getler

,  Edited by 

Johanna Arnone

Written by 

Taylor Getler

 and 
1 other
Last updated 05/29/2026
An adjustable-rate mortgage, or ARM, has an interest rate that can change over time. These are NerdWallet’s highest-rated lenders that offer ARMs.
 

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What is an adjustable-rate mortgage?

Adjustable-rate mortgages, or ARMs, are home loans with interest rates that will change periodically. Comparatively, fixed-rate mortgages are more common.
In most cases, ARM lenders provide a low fixed interest rate during an introductory period, which then adjusts after a set time. This structure can make ARMs well-suited to borrowers who only plan to be in their home for a few years.
When the introductory period expires, the interest rate adjusts to current market rates.
  • 📉 If current rates are lower, your rate and mortgage payment may decrease.
  • 📈 If current rates are higher than the initial rate, your rate and mortgage payment may increase.
ARM rates continue to change periodically — usually every six months — until you sell, refinance or pay back the mortgage in full.
You’ll often see ARM terms represented as a fraction. This number begins with the length of the initial rate period, followed by the amount of time until the rate adjusts. So, if you get an offer for a 5/6 ARM, that means the initial rate lasts five years before resetting every six months.
» MORE: How an ARM works, and who it’s for
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Best for low combined rates and fees

Alliant

NMLS#197185

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Alliant

The Nerdy headline

Alliant Credit Union allows you to see a wide range of customized mortgage rates without sharing your contact information, and offers competitive loan products for first-time home buyers.

What we like
  • Offers a competitive combination of low rates and fees.
  • Mortgage borrowers do not need to become members of the credit union until reaching the closing process.
  • Sample rates are displayed upfront, and it's easy to get detailed, personalized rates without providing any personally identifying information.
What we don't like
  • Mobile banking app doesn't offer mortgage features.
Read our full review of Alliant

Best for rate shopping

PNC Bank

NMLS#446303

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on PNC Bank

The Nerdy headline

PNC Bank offers a wide selection of loans and refinance options, with a streamlined digital experience and comprehensive rates tool.

What we like
  • Solid variety of mortgage types, both standard and harder-to-find.
  • Online rate quotes are informative and easy to customize.
  • Offers down payment grants and no-PMI loans for low-income borrowers.
What we don't like
  • Mobile app has limited mortgage features.
  • In-person service not available in all states.
  • Construction loans are only available in AL, AZ, CA, CO, FL, GA, NJ, NM, NC, OH, PA, SC, TN, TX, VA and WA.
Read our full review of PNC Bank

Best for borrowers with military connections

Navy Federal

NMLS#399807

NerdWallet rating

5.0

Home loans overall
Min. credit score

N/A

Min. down payment

5%

GET MY RATE

Our take on Navy Federal

The Nerdy headline

Navy Federal is known for VA lending, but its flexible VA-like loan options truly stand out. You'll need a military connection to join the credit union.

What we like
  • Offers unique no-down-payment and no-mortgage-insurance loan options for military and civilian members.
  • 24/7 customer service supports borrowers stationed overseas.
  • Has both home equity loans and lines of credit.
What we don't like
  • Borrowers must join the credit union before applying for a mortgage, and all borrowers on the loan must be members for the loan to close.
  • Does not offer FHA, renovation or construction loans.
Read our full review of Navy Federal

Best for existing Wells Fargo customers

Wells Fargo

NMLS#399801

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Wells Fargo

The Nerdy headline

Wells Fargo has significantly shrunk its mortgage business in recent years, but still offers a range of government-backed and speciality loans, as well as assistance for first-time home buyers.

What we like
  • Borrowers can see customized mortgage rate estimates online.
  • Offers relatively low interest rates and fees, according to the latest federal data.
  • Discounts may be available for existing Wells Fargo customers.
What we don't like
  • Does not offer home equity loans or HELOCs.
  • Borrowers need at least $250,000 in assets with the bank to qualify for a rate discount.
  • Prospective borrowers may be put off by the lender’s past legal issues.
Read our full review of Wells Fargo

Best for North Carolina area borrowers

State Employees' Credit Union

NMLS#430055

NerdWallet rating

5.0

Home loans overall
Min. credit score

N/A

Min. down payment

0%

GET MY RATE

Our take on State Employees' Credit Union

The Nerdy headline

State Employees’ Credit Union in North Carolina is worth checking out for those in the Southeast who meet its narrow membership criteria — especially first-time home buyers eligible for generous grants and specialty loans. But it doesn’t offer government-backed mortgages.

What we like
  • Offers a zero-down mortgage without private mortgage insurance.
  • Participates in multiple first-time buyer assistance programs.
  • Low average mortgage rates and fees, according to the latest federal data.
What we don't like
  • Credit union membership eligibility is limited.
  • Loans only available in five states.
  • Doesn’t offer government-backed mortgages.
Read our full review of State Employees' Credit Union

Best for fast closing potential

First Federal Bank

NMLS#408902

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on First Federal Bank

The Nerdy headline

First Federal Bank stands out for its competitive APRs and its emphasis on government loans. Most likely to appeal to borrowers shopping for low rates and fees.

What we like
  • Strong experience in FHA and VA lending.
  • APRs tend to be competitive, according to the latest federal data.
  • Minimum credit score requirement of 580 for some loans, which is lower than some competitors.
What we don't like
  • Home equity lending is not a priority.
  • Does not offer renovation loans, but does offer construction loans.
Read our full review of First Federal Bank

Best for fast closing potential

NBKC

NMLS#409631

NerdWallet rating

4.5

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on NBKC

The Nerdy headline

NBKC stands out for its attractive interest rates and fees, and is primarily an online lender — though its app does not have mortgage features.

What we like
  • Competitive interest rates and fees.
  • Offers most common loan types, as well as a handful of specialty loans.
  • Payouts are available to borrowers whose loans don’t close on time.
What we don't like
  • Customer service is only accessible over the phone for many mortgage customers.
  • Does not offer renovation loans.
  • Home equity products are not currently a lending priority.
Read our full review of NBKC

Best for low combined rates and fees

Andrews Federal Credit Union

NMLS#410421

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Andrews Federal Credit Union

The Nerdy headline

Andrews Federal Credit Union is on the smaller side, but offers big value through low rates and good customer support. Its online rate quote tool is exceptionally informative. Renovation loans aren’t available.

What we like
  • Offers free, one-time “float down” if mortgage rates drop while your loan is in progress.
  • Online rate tool is exceptionally user-friendly and detailed.
What we don't like
  • No renovation loans.
  • U.S. branches limited to Maryland, Virginia, Washington, D.C. and New Jersey.
Read our full review of Andrews Federal Credit Union

Best for low combined rates and fees

FourLeaf Federal Credit Union

NMLS#449104

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on FourLeaf Federal Credit Union

The Nerdy headline

FourLeaf Credit Union, formerly known as Bethpage, is easy to join: Just deposit $5 in a savings account. Its online rates tool lets you estimate monthly payments, but customization is limited.

What we like
  • Nice selection of specialty mortgages.
  • Well rated mobile app.
What we don't like
  • No renovation or construction loans.
  • Online rate quote is light on detail and doesn’t let you customize.
  • Average interest rates are on the higher side, according to the latest federal data.
Read our full review of FourLeaf Federal Credit Union

Best for low combined rates and fees

Truist

NMLS#399803

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Truist

The Nerdy headline

If you prefer people to tech, Truist might be a good fit for you. Preapproval and customer care happen mostly offline, and for details on less-common loan types or custom rates you'll need to talk to a person.

What we like
  • Offers a wide range of mortgage options focused on affordability.
  • Convenient online application.
  • Generous grants for qualifying home buyers in select locations.
What we don't like
  • Getting custom rates and applying for mortgage preapproval both require human contact.
  • Customer care leans heavily on phone and in-person service.
  • HELOCs are not available in most states, though home loans are available everywhere in the U.S. except Alaska, Arizona and Hawaii.
Read our full review of Truist

Best for rate shopping

Chase

NMLS#399798

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Chase

The Nerdy headline

Chase mortgage has an above-average reputation for consumer satisfaction, and offers a number of programs that can make home buying more affordable and accessible.

What we like
  • Offers a wide range of loan types, including options with low down payment requirements.
  • Home buyer grants up to $5,000 may apply for qualified borrowers.
  • Receives above-average ratings for customer satisfaction, according to J.D. Power and Zillow.
What we don't like
  • Borrowers must create an account or speak with a home loan expert before completing an online application.
  • Parts of the prequal and preapproval process cannot be done solely online.
Read our full review of Chase

How we chose the best adjustable-rate mortgage lenders

Our team of mortgage experts follows an objective, consumer-first methodology to assess ARM lenders and pick the best.

40+

Lenders reviewed

We review more than 40 lenders, including major banks, credit unions, and online lenders operating across multiple states.

8+

Categories assessed

Each lender is evaluated across eight weighted categories covering rates and fees, mortgage accessibility, rate transparency and average time to close.

11,000+

Data points analyzed

Our team tracks and reassesses thousands of data points annually for reviewed lenders, ensuring up-to-date, accurate comparisons across multiple loan types.

Star rating categories

We evaluate the following categories and carefully weigh how each factor impacts your experience. Read more about how we determine those ratings.
For inclusion on this roundup, lenders must achieve a high rating for home loans overall and offer adjustable-rate mortgages.
NerdWallet rates mortgage lenders based on what matters most to borrowers: rates and fees, product accessibility, customer experience, rate transparency and the range of loan options.
We review more than 40 lenders and score them using a weighted system that prioritizes affordability and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, making loans widely available, clearly displaying rate information and supporting borrowers from application through closing.
We use a mix of lender-provided information, publicly available data and our own research and analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.
Read more about how NerdWallet rates mortgage lenders here.
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When an ARM is a good idea

Here are some situations when an ARM makes sense:
  1. You’ll own the house for a short time. If you might relocate within three, five, seven or 10 years, an ARM may save you money. Military members and their families or doctors in a residency program are two examples of borrowers who may anticipate a move.
  2. You plan to pay off the mortgage quickly. Do you expect a financial windfall, such as an inheritance or lawsuit settlement, in the next few years? An ARM may allow you to make smaller monthly mortgage payments until the money comes in and you pay off the loan.
  3. You expect fixed-rate mortgage rates to decrease. It’s risky and hard to predict, but if you expect fixed-rate mortgage rates to drop below current ARM rates before your introductory period expires, an adjustable-rate mortgage may yield savings until fixed rates drop. Be aware that this option requires you to eventually refinance to a fixed-rate mortgage, which means choosing a lender, getting approved and paying closing costs, just like with your ARM.
» MORE: Pros and cons of an adjustable-rate mortgage

When an ARM is a bad idea

An ARM probably isn’t the right choice if:
  1. You plan to put down roots. If you’re buying your forever home and have no plans to move, a fixed-rate mortgage might be more appropriate. While it may have a slightly higher rate, a fixed-rate mortgage involves less risk than an adjustable-rate mortgage, so your investment is better protected.
  2. You want a predictable mortgage payment. Sure, the interest rate on a fixed-rate mortgage may initially be higher than that of an ARM, but you’ll never have to worry about it going up, and you’re always free to refinance your mortgage if rates drop significantly in the years ahead.
  3. Your budget can’t handle a larger mortgage payment. Maybe you’re thinking about going back to school, starting a family or launching a business. These life changes could affect your income in the years ahead. If you’re not sure you could handle a mortgage payment that gets bigger when rates adjust higher, stick with the predictability of a fixed-rate mortgage.
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