Taste of Summer ARM Loan
Thirsty for Lower Mortgage Rates?
Get an On Tap Taste of Summer ARM loan!
3/1 ARM with rates as low as 3.35%/4.26% APR or
5/1 ARM with rates as low as 3.65%/4.24% APR!
“Maximum combined loan-to-value (CLTV) 90%”
“ARM = Adjustable Rate Mortgage. Rate fixed for initial 3 or 5 year period then becomes adjustable and may increase or decrease once a year. Maximum rate adjustment of 2% per year and 6% over the life of the loan. Index: 1 Year Treasury Bill. Example of monthly payments on a $200,000 loan amount for the 3/1 ARM over 30 years: Year 1-3: 36 monthly payments of $881 per month and based on the initial rate of 3.35% APR; Year 4: 12 monthly payments of $1,097 based on the maximum adjustment rate of 5.35% APR; Year 5: 12 monthly payment of $1,328 based on the maximum adjustment rate of 7.35% APR; and, Years 6-30: 288 monthly payments of $1,572 based on the maximum ceiling rate of 9.35%. Example based on a loan at 80% maximum loan to value for an owner-occupied, single family home. Rate shown may be different based on credit history. Payments do not included taxes and insurance.”
“APR = Annual percentage rate. Rates advertised is based on approved credit and a maximum loan-to-value of 80%. 0.5% origination fee.”
“Some restrictions may apply. Terms and conditions are subject to change without notice.”