| |
Term / Type of Loan |
Interest Rate |
Estimated Monthly payment
per $1,000 - Example
($200,000 = 200 x # below) |
1 Year ARM
Payment is fixed for 1 year,
then changes up or down
depending on the new
interest rate at that time. |
5.375 |
5.60 |
3 Year ARM
Payment is fixed for 3
years, then changes up or
down depending on the
new interest rate at that
time. |
5.375 |
5.60 |
5 Year ARM
Payment is fixed for 5
years, then changes up or
down depending on the
new interest rate at that
time. |
5.75 |
5.84 |
Interest Only - 5 Year
Payment is fixed for 5
years, then changes up or
down depending on the
new interest rate at that
time, and the principle is
added back into the
payment. |
6.25 |
5.21 |
|
|
|