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.
Monthly Payment Schedule*
7/1 ARM - Indexed
No data found
84 payments of $440.90 at an interest rate of 2.75%
275 payments of $451.43 at an interest rate of 2.98%
1 payment of $452.90 at an interest rate of 2.98%
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.