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Rate and Payment Details
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.

5/1 ARM - Indexed
Initial Interest RateAPRMaximum Interest RateMonths to First Rate Adjustment

Monthly Payment Schedule*
  • 60 payments of $454.75 at an interest rate of 2.99%
  • 299 payments of $456.25 at an interest rate of 3.02%
  • 1 payment of $455.66 at an interest rate of 3.02%

Product Features
  • Rate Caps - 2% per annual adjustment and 6% over the lifetime of the loan
  • Rate floor - 2.75%
  • Index - 1 yr. t-bill rate
  • Margin - 2.75%
*Assuming the purpose of the loan is to purchase property, with a loan amount of $108,000 and an estimated property value of $135,000.