Want the security of a fixed payment each month? Plan your monthly budget more
accurately and protect yourself against possible rising interest rates in
the future.
- Interest rate fixed for the life of your loan.
- Principal pay-off increases steadily every month.
Want the advantages of a lower initial rate? Reduce your payment now and save big
if you have short-term plans.
- Lower initial rate and monthly payment set for initial period of time.
- Rate adjustments at scheduled intervals for the remainder of the loan*.
*Loan adjustments based on index rate and margin. Rate may be based on a variety of indices.
The Libor and one-year Treasure indices are among the most common. Margin is added to the
index. Rates can increase. However, because you assume this risk, your initial rate
will generally be low until the first adjustment.
