ARM Payment Examples

5/1 Conforming ARM Payment Example 1

YearInterest
Rate2		APR1Payment per
$1,000
Borrowed
1-55.625%5.735%$5.76
6-3010.625%10.625%$8.83

ARM Loan assumption: Advertised rate assumes single-family primary residence, 740 FICO, down payment of 40% (up to 60% LTV for refinances). Displayed include discount points. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Payments on all ARMs are based on a 30-year amortization.

7/1 Conforming ARM Payment Example 1

YearInterest
Rate2		APR1Payment per
$1,000
Borrowed
1-75.750%5.861%$5.84
8-3010.750%10.750%$8.74

ARM Loan assumption: Advertised rate assumes single-family primary residence, 740 FICO, down payment of 40% (up to 60% LTV for refinances). Displayed include discount points. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Payments on all ARMs are based on a 30-year amortization.

10/1 Conforming ARM Payment Example 1

Loan Amount: $250,000 Term: 30 years

YearInterest
Rate2		APR1Payment per
$1,000
Borrowed
1-106.00%6.113%$6.00
11-3011.000%11.000%$8.64

ARM Loan assumption: Advertised rate assumes single-family primary residence, 740 FICO, down payment of 40% (up to 60% LTV for refinances). Displayed include discount points. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Payments on all ARMs are based on a 30-year amortization.

DISCLOSURES:  

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¹Rate adjustment information
Interest rates shown are for informational purposes only and are based on a single-family detached, owner-occupied property located in California, LTV of 60%, and a credit score of at least 740. Certain interest rate and/or discount point adjustments may apply depending on loan features, LTV and credit worthiness. Maximum loan-to-value (LTV) will vary by product. Additional restrictions and conditions may apply.

Adjustable-rate mortgages are tied to the Index of the weekly average yield on United States Treasury securities adjusted to a constant maturity of one year, as made available by the Board of Governors of the Federal Reserve System. The most recent Index value available as of the date 45 days before each Change Date is called the "Current Index.” Your rate may be different than what is shown. 2. Variable rate. APR and payment subject to increase after loan consummation. Rate is fixed for the first five, seven or 10 years, depending on program, and adjusts periodically thereafter based on a fully indexed rate. 3. Floor rate is the start rate. Treasury Indexed ARM interest and payment adjustment occurs every 12 months after the initial fixed rate period. Rate caps : 5% first adjustment cap, 2% annual adjustment, and 5% over the lifetime of the loan. Margin : 3%.

Please note that interest rates may change throughout the day. The rates above are SCU posted rates as of 8 AM each morning. For "up-to-the-minute rates," please call your mortgage loan originator or SCU member services at (916)444-6070.

²APR=Annual Percentage Rate. The lowest rate is displayed. Credit worthiness determines APR and maximum loan-to-value allowed.