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| SMART 3/3 ARM |
| SMART 5/3 ARM |
| SMART 7/3 ARM |
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SMART 3/3 ARM
This is a 3/3 ARM. Initial Note rate is 3.25%. Loan amounts are non-jumbo loan amounts. Caps are 1% & 3%. After the initial 3 year period, the interest rate may adjust every 36 months, but never more than one percentage point per adjustment period and no more than a total of three points during the life of the loan. Over the life of the loan, the Note rate can never exceed 6.25% or fall below 3.25%.
Margin is 3.00 and the Index is based off of the 3 year US Treasury rate which you can find at: http://www.federalreserve.gov/releases/h15/update/
Click here for more details -------> 3/3-30 SMART ARM
Maximum Amount: $417,000
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SMART 5/3 ARM
This is a 5/3 ARM. Initial Note rate is 3.75%. Loan amounts up to 2M. Caps are 1% & 3%. After the initial 5 year period, the interest rate may adjust every 36 months, but never more than one percentage point per adjustment period and no more than a total of three points during the life of the loan. Over the life of the loan, the Note rate can never exceed 6.75% or fall below 3.75%.
Margin is 2.875 and the Index is based off of the 1 year US Treasury rate which you can find at: http://www.federalreserve.gov/releases/h15/update/
Click here for more details -------> 5/3-30 SMART ARM
Maximum Amount: $2,000,000
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SMART 7/3 ARM
This is a 7/3 ARM. Initial Note rate is 4.00%. Loan amounts up to 2M. Caps are 1% & 3%. After the initial 7 year period, the interest rate may adjust every 36 months, but never more than one percentage point per adjustment period and no more than a total of three points during the life of the loan. Over the life of the loan, the Note rate can never exceed 7.00% or fall below 4.00%.
Margin is 2.875 and the Index is based off of the 1 year US Treasury rate which you can find at: http://www.federalreserve.gov/releases/h15/update/
Click here for more details -------> 7/3-30 SMART ARM
Maximum Amount: $2,000,000
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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