Additional Rate and Payment Information - Conforming

5 Year SOFR ARM1 
  This adjustable rate mortgage (ARM) offers principal and interest payments based on a 30-year amortization with a fixed rate of interest for the first 5 years, after which the interest rate may adjust every 6 months thereafter for the remaining 25 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. Initial interest rate adjustment cannot change more than 2%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. For example, during the first 5 years the initial payment on a 30-year $250000 loan is $987.81 at 2.500%, with 60% loan-to-value, 0 points due at closing and 2.965% Annual Percentage Rate (APR). After the initial 5 years, the fully indexed rate will adjust every 6 months, in which case your payment may increase. Based on a recently published index, the initial fully indexed rate rounded to the nearest 0.125% would be 3.125% with principal and interest payments of $1058.53. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount may be greater.  

5 Year SOFR ARM (Interest Only)1 
This adjustable rate mortgage (ARM) offers interest only payments for 10 years and principal and interest payments thereafter based on a 20-year amortization. The initial rate of interest is fixed for the first 5 years and may adjust every 6 months thereafter for the remaining 25 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. Initial interest rate adjustment cannot change more than 2%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. For example, during the first 5 years the initial interest only payment on a 30-year $250000 loan is $572.92 at 2.750%, with 60% loan-to-value, 0 points due at closing and 3.057% Annual Percentage Rate (APR). After 5 years, the interest rate is no longer fixed and may adjust every 6 months, in which case your payment may increase. Based on a recently published index, the fully indexed rate rounded to the nearest 0.125% would be 3.125% with interest only payments of $572.92. After 10 years, the fully indexed rate may adjust every 6 months and the payment will switch from interest only to a principal and interest payment of $1402.19 for the remaining term of the loan, based on the then current index and margin. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount may be greater.   

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7 Year SOFR ARM1
This adjustable rate mortgage (ARM) offers principal and interest payments based on a 30-year amortization with a fixed rate of interest for the first 7 years, after which the interest rate may adjust every 6 months thereafter for the remaining 23 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. Initial interest rate adjustment cannot change more than 5%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. For example, during the first 7 years the initial payment on a 30-year $250000 loan is $1004.13 at 2.625%, with 60% loan-to-value, 0 points due at closing and 2.952% Annual Percentage Rate (APR). After the initial 7 years, the fully indexed rate will adjust every 6 months, in which case your payment may increase. Based on a recently published index, the initial fully indexed rate rounded to the nearest 0.125% would be 3.125% with principal and interest payments of $1056.99. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount may be greater.  

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7 Year SOFR ARM (Interest Only)1
This adjustable rate mortgage (ARM) offers interest only payments for 10 years and principal and interest payments thereafter based on a 20-year amortization. The initial rate of interest is fixed for the first 7 years and may adjust every 6 months thereafter for the remaining 23 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. Initial interest rate adjustment cannot change more than 5%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. For example, during the first 7 years the initial interest only payment is $598.96 on a $250000 loan with an initial fixed rate of interest of 2.875%, 60% loan to value (LTV), 0 points due at closing and 3.068% Annual Percentage Rate (APR). After 7 years, the interest rate is no longer fixed and may adjust every 6 months, in which case your payment may increase. Based on a recently published index, the fully indexed rate rounded to the nearest 0.125% would be 3.125% with interest only payments of $598.96. After 10 years, the fully indexed rate may adjust every 6 months and the payment will switch from interest only to a principal and interest payment of $1402.19 for the remaining term of the loan, based on the then current index and margin. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount will be greater.  

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10 Year SOFR ARM1
This adjustable rate mortgage (ARM) offers principal and interest payments based on a 30-year amortization with a fixed rate of interest rate for the first 10 years, after which the interest rate may adjust every 6 months thereafter for the remaining 20 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%. Initial interest rate adjustment cannot change more than 5%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. For example, during the first 10 years the initial payment on a 30-year $250000 loan is $1020.61 at 2.750%, with 60% loan-to-value, 0 points due at closing and 2.955% Annual Percentage Rate (APR). After the initial 10 years, the fully indexed rate will adjust every 6 months, in which case your payment may increase. Based on a recently published index, the initial fully indexed rate rounded to the nearest 0.125% would be 3.125% with principal and interest payments of $1055.82. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount may be greater.  

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10 Year SOFR ARM (Interest Only)1
This adjustable rate mortgage (ARM) offers interest only payments for 10 years and principal and interest payments thereafter based on a 20-year amortization. The initial rate of interest is fixed for the first 10 years and may adjust every 6 months thereafter for the remaining 20 years using a fully indexed rate (index plus margin) rounded to the nearest 0.125%.Initial interest rate adjustment cannot change more than 5%, and thereafter, each subsequent periodic interest rate adjustment cannot change more than 1%. Rate increases are capped at 5% for the life of the loan. Interest rate will never be less than the margin. For example, on a $250000 ARM, 60% loan-to-value (LTV), 0 points due at closing and a fixed rate of 3.000% and 3.101% Annual Percentage Rate (APR), the interest only payment would be $625 for the first 10 years. After 10 years, the fully indexed rate may adjust every 6 months and the payment will switch from interest only to a principal and interest payment of $1402.19 for the remaining term of the loan, based on the then current index and margin. Disclosed payments do not include taxes and insurance premiums, so the actual payment amount will be greater.

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10-Year Fixed1
*10-Year Fixed-Rate Mortgage:* The payment on a $250000 10-year Fixed-Rate Loan at 3.500% and 60% loan-to-value (LTV) is $2472.15 with 0.125 points due at closing. The Annual Percentage Rate (APR) is 3.722%. Disclosed payment does not include taxes and insurance premiums, so the actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The advertised annual percentage rate is an estimate reflecting the average borrower’s cost expressed as a percentage. This includes the interest rate plus other charges and/or fees. Your APR will vary based on your situation. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. This is not a commitment to lend.*  

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15-Year Fixed1
*15-Year Fixed-Rate Mortgage:* The payment on a $250000 15-year Fixed-Rate Loan at 3.500% and 60% loan-to-value (LTV) is $1787.21 with 0.25 points due at closing. The Annual Percentage Rate (APR) is 3.672%. Disclosed payment does not include taxes and insurance premiums, so the actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The advertised annual percentage rate is an estimate reflecting the average borrower’s cost expressed as a percentage. This includes the interest rate plus other charges and/or fees. Your APR will vary based on your situation. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. This is not a commitment to lend.*  

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20-Year Fixed1
*20-Year Fixed-Rate Mortgage:* The payment on a $250000 20-year Fixed-Rate Loan at 3.375% and 60% loan-to-value (LTV) is $1433.9 with -0.125 points due at closing. The Annual Percentage Rate (APR) is 3.478%. Disclosed payment does not include taxes and insurance premiums, so the actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The advertised annual percentage rate is an estimate reflecting the average borrower’s cost expressed as a percentage. This includes the interest rate plus other charges and/or fees. Your APR will vary based on your situation. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. This is not a commitment to lend.*  

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25-Year Fixed1
*25-Year Fixed-Rate Mortgage:* The payment on a $250000 25-year Fixed-Rate Loan at 3.625% and 60% loan-to-value (LTV) is $1268.39 with 0.125 points due at closing. The Annual Percentage Rate (APR) is 3.724%. Disclosed payment does not include taxes and insurance premiums, so the actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The advertised annual percentage rate is an estimate reflecting the average borrower’s cost expressed as a percentage. This includes the interest rate plus other charges and/or fees. Your APR will vary based on your situation. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. This is not a commitment to lend.*  

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30-Year Fixed1
*30-Year Fixed-Rate Mortgage:* The payment on a $250000 30-year Fixed-Rate Loan at 3.625% and 60% loan-to-value (LTV) is $1140.13 with 0.125 points due at closing. The Annual Percentage Rate (APR) is 3.711%. Disclosed payment does not include taxes and insurance premiums, so the actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The advertised annual percentage rate is an estimate reflecting the average borrower’s cost expressed as a percentage. This includes the interest rate plus other charges and/or fees. Your APR will vary based on your situation. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. This is not a commitment to lend.*  

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