![]() The rate may not change more than 5% over the life of the loan. The rate will change based on adding the then current index value and the loan margin, rounded up or down to the nearest 1/8%, but may not change more than 2% in any one change. Beginning in year 6 the rate and payment adjust every 5 years. Available for both purchase and refinance transactions.ĥ/5 ARM-The initial monthly payment of principal and interest would be $937.28. Down payment of 5% or more required. Rates and terms vary depending upon loan to value ratio, credit, and underwriting requirements, and may change without notice. Other fees and closing costs apply. Loan amounts up to $1,000,000. Loan origination fee is 0.50% of the loan amount. ![]() Flood and/or property hazard insurance may be required. ![]() Payments are estimates and include only principal and interest for loan amount of $150,000 for 30-year term. Uses 1-Year Treasury Constant Maturity Index.ĪPR=Annual Percentage Rate. The monthly payment in year 8 would be $1,021.28 if all prior payments were made as scheduled and the rate went up the maximum amount allowed of 1%. The rate will change based on adding the then current index value and the loan margin, rounded up or down to the nearest 1/8%, but may not change more than 1% in any one change. Beginning in year 8 the rate and payment adjust every year. Available for both purchase and refinance transactions.ħ/1 ARM-The initial monthly payment of principal and interest would be $937.28. Rates and terms vary depending upon to value ratio, credit, and underwriting requirements, and may change without notice. The monthly payment in year 11 would be $1,113.31 if all prior payments were made as scheduled and the rate went up the maximum amount allowed of 2%. Beginning in year 11 the rate and payment adjust every year. Uses 1-Year Treasury Constant Maturity Index.ġ0/1 ARM-The initial monthly payment of principal and interest would be $957.00. The monthly payment in year 16 would be $1,092.32 if all prior payments were made as scheduled and the rate went up the maximum amount allowed of 2%. Beginning in year 16 the rate and payment adjust every year. Available for both purchase and refinance transactions.ġ5/1 ARM-The initial monthly payment of principal and interest would be $966.92. Rates and terms vary depending upon loan to value ratio, credit, and underwriting requirements, and may change without notice.
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