7-year ARM (7/6) · PennyMac
Interest rate fixed for 7 years, then may adjust every 6 months. Payments may increase. 30-year repayment term.
Initial rate 6.000%APR 6.589%2.198 points · $6,594 paid at closingThe APR may increase after closing.
Payments, assumptions & ARM disclosures
| Payments | Rate | Monthly P&I |
|---|---|---|
| 1–8484 payments | 6.000% | $1,798.65 |
| 85–360276 payments | 6.625% | $1,900.50 |
The later rate and payment are examples that assume the index stays at today's value. They are not a prediction: the index can go up or down, and refinancing before the rate changes may not be available.
Payments shown are principal and interest only. They do not include taxes, homeowners insurance or HOA dues, so your actual monthly payment will be higher.
Adjustable-rate mortgage. 6.000% interest rate, 6.589% APR. The interest rate is fixed for the first 7 years (84 monthly payments). After that it can change every 6 months, so the payment can go up or down. The APR may increase after closing.
$400,000 price, $100,000 down (25%), $300,000 loan, 360 monthly payments. 2.198 points · $6,594 paid at closing.
Assumes a Florida purchase of a one-unit single-family primary residence, credit 780–799, a 30-day rate lock, full escrows and a standard (not high-balance) loan amount. Approval requires automated underwriting approval; the lender qualifies you at no less than the initial rate. Not every borrower or property qualifies.
The later rate shown, 6.625%, is the SOFR 30-day average of 3.913% published November 6, 2026 by the Federal Reserve Bank of New York, plus a 2.750% margin, rounded to the nearest 0.125%. The first rate change can take effect with payment 85.
Rate limits: up to 5 percentage points at the first change, 1 at each later change, and never more than 11.000%. At that maximum the payment would be $2,681.14, as early as payment 85. The lowest rate the loan can reach has not yet been confirmed by the lender.
PennyMac rate sheet, November 6, 2026, 9:40 a.m. ET. Rates may change or be unavailable at commitment or closing. This is an estimate, not a loan approval or a rate lock.
If you apply for this adjustable-rate loan, PennyMac, the lender, sends you the Consumer Handbook on Adjustable-Rate Mortgages and its disclosure for this ARM program.