| Points | Initial Rate (not based on index and margin used to make later adjustments) | Current Rate (based on index and margin)** | APR* | Monthly Payment Per $1,000 Borrowed for first 12 payments based on Initial Rate | Monthly Payment Per $1,000 Borrowed for remaining 348 payments based on Current Rate |
|---|
| 1 YEAR ARM (30 YEAR TERM) | |
| 2 | 3.750% | 4.000% | 5.243% | $4.77 | $4.86 |
| 1 | 3.875% | 4.000% | 5.164% | $4.85 | $4.86 |
| 0 | 4.000% | 4.000% | 5.086% | $4.92 | $4.86 |
| 3/1 ARM (30 YEAR TERM) | |
| 2 | 3.750% | 4.000% | 5.030% | $4.77 | $5.05 |
| 1 | 3.875% | 4.000% | 4.972% | $4.85 | $5.05 |
| 0 | 4.000% | 4.000% | 4.915% | $4.92 | $5.05 |
| 5/1 ARM (30 YEAR TERM) | |
| 2 | 3.750% | 4.000% | 4.847% | $4.77 | $5.28 |
| 1 | 3.875% | 4.000% | 4.807% | $4.85 | $5.28 |
| 0 | 4.000% | 4.000% | 4.767% | $4.92 | $5.28 |
| 7/1 ARM (30 YEAR TERM) | |
| 2 | 3.750% | 4.000% | 4.689% | $4.77 | $5.55 |
| 1 | 3.875% | 4.000% | 4.664% | $4.85 | $5.55 |
| 0 | 4.000% | 4.000% | 4.639% | $4.92 | $5.55 |
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*APR = ANNUAL PERCENTAGE RATE. RATES AND PAYMENTS MAY ADJUST ANNUALLY AFTER THE INITIAL PERIOD EXPIRES BASED ON MOVEMENTS IN THE INDEX.
**CURRENT RATES SHOWN IN TABLE ABOVE FACTOR IN MCU’S FLOOR RATE OF 4%.
THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES, HOMEOWNER'S INSURANCE AND PMI INSURANCE. (PMI INSURANCE WILL BE REQUIRED IF YOU ARE BORROWING MORE THAN 80% OF THE APPRAISED VALUE OF THE PROPERTY). THEREFORE, YOUR ACTUAL PAYMENT OBLIGATIONS WILL BE HIGHER.
Above APRs are based on loan amounts of $280,000.Above rates are applicable to loans secured by a 1-2 Family home which is the principal residence of the borrower(s). Different rates may apply for loans secured by Co-ops, Second/Vacation homes and 3-4 Family homes. Rates may be higher based on applicant’s creditworthiness. Rates and terms are subject to change without notice. Certain restrictions may apply.