Adjustable-Rate Mortgage Loan (ARM) Details

$550,000

  • Annual Cap: 2.00%
  • Life Cap: 4.00%
  • Floor: 2.25%
  • Margin: 2.25%

$550,001 - $1,000,000

  • Annual Cap: 2.00%
  • Life Cap: 4.00%
  • Floor: 2.50%
  • Margin: 2.50%

$1,000,001 and higher

  • Annual Cap: 2.00%
  • Life Cap: 4.00%
  • Floor: 2.875%
  • Margin: 2.875%
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% 2.25% 2.25%
      $550,001 - $1,000,000
      2.00% 4.00% 2.50% 2.50%
      $1,000,001 and higher
      2.00% 4.00% 2.875% 2.875%
      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 London Interbank Offered Rate (LIBOR), as published in The Wall Street Journal on the first business day of the month.