Adjustable-Rate Mortgage Loan (ARM) Details

Adjustable-Rate Mortgage Loan (ARM) Details

$550,000

  • Annual Cap: 2.00%
  • Life Cap: 4.00%
  • Floor: 2.75%
  • Margin: 275%

$550,001 - $1,000,000

  • Annual Cap: 2.00%
  • Life Cap: 4.00%
  • Floor: 2.75%
  • Margin: 2.75%

$1,000,001 and higher

  • Annual Cap: 2.00%
  • Life Cap: 4.00%
  • Floor: 3.000%
  • Margin: 3.000%
NOTE:
- Minimum term on any ARM product is 10 years
- 3/1 ARM is not available above 95% LTV or above $453,100 loan amount
- Qualifying rate on ARM products will be as follows:
   - 3/1 ARM - Note rate + 4.00%
   - 5/1 ARM - Note rate + 2.00%
   - 7/1 ARM - Note rate
      Loan Limit
      		 Annual Cap
      		 Life Cap
      		 Floor Margin
      $550,000 2.00% 4.00% 2.75% 2.75%
      $550,001 - $1,000,000
      		 2.00% 4.00% 2.75% 2.75%
      $1,000,001 and higher
      		 2.00% 4.00% 3.00% 3.00%
      NOTE:
       - Minimum term on any ARM product is 10 years
       - Qualifying rate on ARM products will be as follows:
             - 3/1 ARM - Note rate + 4.00%
             - 5/1 ARM - Note rate + 2.00%
             - 7/1 ARM - Note rate

      Index: One-year US Constant Maturity Treasury Rate, as made available by the Federal Reserve Board.