Below are the details of the rate and payment that will apply over the term of the
loan. The payments do not include amounts for taxes and insurance. A current reasonable
index and margin were used to show potential future rate and/or payment changes.
Months to First
Rate Adjustment
Monthly Payment Schedule*
- 60 payments of $524.99 at an interest rate of 4.15%.
- 299 payments of $544.26 at an interest rate of 4.50%.
- 1 payment of $544.65 at an interest rate of 4.50%.
Product Features
- Rate Caps - 2% per annual adjustment and 6% over the lifetime of the loan
- Rate floor - 4.5%
- Index - 1 yr. t-bill rate
- Margin - 2.75%
*Assuming the purpose of the loan is to purchase property, the monthly payment calculations are based on a loan amount of $108,000 with an estimated property value of $135,000.