Rate and Payment Details - Adjustable Rate Mortgage

  ARM:

Initial Interest Rate	APR	Fully Indexed Rate	Maximum Interest Rate	Months to First Rate Adjustment	Interest Only Term
%	%	%	%	Months	0 Months

 Payment Stream:

Payment Month(s)	P & I Amount	Rate
1 -	*	%
-	*	%
	*	%

*Payment amount is an estimate

Above are the details of the Rate and Payment that will apply over the term of the loan. The payments listed above do not include amounts for taxes and insurance. If the Loan is an Adjustable Rate Loan, a current reasonable Index and Margin were used to display potential future Rate and/or Payment changes.

• Initial Interest Rate: On an Adjustable Rate Loan it is the interest rate that is fixed for some specified number of months at the beginning of the loan term.
  
  
• APR: Annual Percentage Rate the rate that reflects the annual cost of a loan and includes the loan interest rate, points and some fees, but does not include private mortgage insurance.
  
  
• Fully Indexed Rate: The current index value plus the margin on an Adjustable Rate Loan.
  
  
• Current Indices: 1-Year Constant Maturity Treasury (CMT) Security.
  
  
• Max Interest Rate: The maximum rate that may occur on your Adjustable Rate Loan.
  
  
• Months to First Rate Adjustment: The period of time before your interest rate will adjust on an Adjustable Rate Loan.
  
  
• Interest Only Term: Not available at this time.
  
  
• Payment Stream: Please note the "P & I Amount" is shown. Payments do not include taxes and insurance.
  
  
• APR Assumptions: APRs are calculated using loan amounts of $200,000 for Conforming, $500,000 for High Cost Area Loan Limit, $750,000 for Non-Conforming Level 1, $1,150,000 for Non-Conforming Level 2 and $1,650,000 for Non-Conforming Level 3, include 15 days accrued interest and $1,352 in upfront fees, and assume monthly repayment and a maximum loan-to-value of 80%. Mortgage rates listed apply only in certain conditions. Loan rates depend on several factors/assumptions. A loan's final rate will depend on financial market conditions, specific characteristics of the loan transaction and applicant's credit profile up to the time of closing. Adj* = Adjustable Rate Index tied to 1-Year Constant Maturity Treasury (CMT) Security. All rates are subject to change at any time without prior notice. The Credit Union offers many additional mortgage loan programs. For more information, contact a Real Estate Loan Specialist at (800) 328-LFCU, option 2, anytime day or night.