Additional Rate and Payment Information - Jumbo

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 $1300000 loan is $8758.35 at 7.125% with 60.00% loan-to-value 0.00 points due at closing and 7.888% 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 8.375% with principal and interest payments of $9763.70. 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 is $7854.17 on a 30-year $1300000 loan with an initial fixed rate of interest of 7.25% 60.00% loan to value (LTV) 0.00 points due at closing and 7.961% 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 8.375% with interest only payments of $9072.92. 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 $11179.07 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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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 $1300000 loan is $8540.08 at 6.875% with 60.00% loan-to-value 0.00 points due at closing and 7.607% 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 8.375% with principal and interest payments of $9672.16. 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 $7583.33 on a 30-year $1300000 loan with an initial fixed rate of interest of 7% 60.00% loan to value (LTV) 0.00 points due at closing and 7.702% 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 8.375% with interest only payments of $9072.92. 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 $11179.07 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 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 $1300000 loan is $8540.08 at 6.875% with 60.00% loan-to-value 0.00 points due at closing and 7.395% 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 8.375% with principal and interest payments of $9564.62. 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 $1300000 ARM 60.00% loan-to-value (LTV) 0.00 points due at closing and a fixed rate of 7% and 7.504% Annual Percentage Rate (APR) the interest only payment would be $7583.33 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 $11179.07 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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15-Year Fixed1
An interest rate of 6.875% (6.932% APR) is for the cost of 0.00 point(s) ($0.00) paid at closing. On a $1300000 mortgage you would make monthly payments of $11594.11. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

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30-Year Fixed1
An interest rate of 7.375% (7.413% APR) is for the cost of 0.00 point(s) ($0.00) paid at closing. On a $1300000 mortgage you would make monthly payments of $8978.78. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

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