| Product type |
Adjustable Rate based on the Prime Rate |
| Rate |
First year 2.25% APR - Second year 3.75% APR |
| Rate Adjustment |
Once a year - After the 2.25% introductory rate expires (12 month inception) |
| Period |
10 year draw period at time advance is taken, after draw period the loan is amortized over 15 years |
| Annual Cap |
Rate can increase a maximum of 1% in any one year or can decrease 1% in any one year |
| Overall Cap |
8% - The rate will never go over 8% for the life of the loan |
| Loan to Value(LTV) |
Up to 90% |
| Floor |
3.75% APR |
