| Points | Initial Rate (not based on index and margin used to make later payments) | Current Rate (based on index and margin)** | APR* | Monthly Payment Per $1,000 Borrowed for the first 60 payments based on Initial Rate | Monthly Payments Per $1,000 Borrowed for remaining 300 payments based on Current Rate |
|---|
| 2 | 2.740% | 4.000% | 3.773% | $4.08 | $4.77 |
| 1 | 2.865% | 4.000% | 3.736% | $4.14 | $4.77 |
| 0 | 2.990% | 4.000% | 3.699% | $4.21 | $4.77 |
*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 EXAMPLE DOES 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.
The rate is current as of 01/23/2020 and is the Credit Union's best rate. Rates and terms may vary depending on loan to value ratio, credit evaluation and underwriting requirements. After the fixed rate period, your interest rate will adjust up or down according to market rates at the time of reset. PMI=Private Mortgage Insurance. Flood and/or property hazard insurance may be required. All Credit Union loan programs, rates, terms, and conditions are subject to credit approval and may change at any time without notice. 5/5 ARM: The payment on a 30 year $280,000, 5-year Adjustable Rate Loan at 2.99% and 80% loan-to-value (LTV) is $1,178.98. After 5 years, the payment is $1,335.60. These payments do not include taxes or insurance premiums. The actual premiums will be higher; and rates provided are based on current market rates and are informational only. Payments are estimates and include only principal and interest.
| 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 | 3.500% | 4.000% | 4.417% | $4.77 | $4.86 |
| 1 | 3.625% | 4.000% | 4.342% | $4.85 | $4.86 |
| 0 | 3.750% | 4.000% | 4.267% | $4.92 | $4.86 |
| 3/1 ARM (30 YEAR TERM) | |
| 2 | 3.500% | 4.000% | 4.304% | $4.77 | $5.05 |
| 1 | 3.625% | 4.000% | 4.248% | $4.85 | $5.05 |
| 0 | 3.750% | 4.000% | 4.193% | $4.92 | $5.05 |
| 5/1 ARM (30 YEAR TERM) | |
| 2 | 3.500% | 4.000% | 4.205% | $4.77 | $5.28 |
| 1 | 3.625% | 4.000% | 4.166% | $4.85 | $5.28 |
| 0 | 3.750% | 4.000% | 4.128% | $4.92 | $5.28 |
| 7/1 ARM (30 YEAR TERM) | |
| 2 | 3.500% | 4.000% | 4.119% | $4.77 | $5.55 |
| 1 | 3.625% | 4.000% | 4.095% | $4.85 | $5.55 |
| 0 | 3.750% | 4.000% | 4.071% | $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.