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| Effective 07/02/2008 |
Conforming Adjustable Rate Loans
5
| Loan Program |
Rate |
Points |
APR1 |
| 3/1 30-Year Adjustable Rate2 |
5.000 |
1.000 |
5.409 |
| 5.125 |
0.500 |
5.395 |
| 5.375 |
0.000 |
5.412 |
| 3/1 40-Year Adjustable Rate2 |
5.125 |
1.000 |
5.429 |
| 5.250 |
0.500 |
5.417 |
| 5.500 |
0.000 |
5.432 |
| 5/1 30-Year Adjustable Rate2 |
5.500 |
1.000 |
5.551 |
| 5.625 |
0.500 |
5.554 |
| 5.875 |
0.000 |
5.618 |
| 5/1 40-Year Adjustable Rate2 |
5.625 |
1.000 |
5.570 |
| 5.750 |
0.500 |
5.571 |
| 6.000 |
0.000 |
5.618 |
| 7/1 30-Year Adjustable Rate2 |
5.625 |
1.000 |
5.630 |
| 5.750 |
0.500 |
5.648 |
| 6.000 |
0.000 |
5.729 |
| 10/1 30-Year Adjustable Rate2 |
6.000 |
1.000 |
5.917 |
| 6.125 |
0.500 |
5.953 |
| 6.375 |
0.000 |
6.074 |
| 3/1 ARM HLPR Loan (Purchase only)3 |
4.500 |
0.000 |
5.198 |
| 2/2 ARM 30-Year (Purchase only)4 |
5.250 |
0.000 |
5.390 |
Jumbo Adjustable Rate Loans
Loan Amounts up to $1,000,000.00
| Loan Program | Rate | Points | APR1 | | 3/1 30-Year Jumbo Adjustable Rate2 | 5.250 | 1.000 | 5.466 | | 5.375 | 0.500 | 5.451 | | 5.625 | 0.000 | 5.468 | | 3/1 40-Year Jumbo Adjustable Rate2 | 5.375 | 1.000 | 5.477 | | 5.500 | 0.500 | 5.466 | | 5.750 | 0.000 | 5.483 | | 5/1 30-Year Jumbo Adjustable Rate2 | 5.750 | 1.000 | 5.643 | | 5.875 | 0.500 | 5.646 | | 6.125 | 0.000 | 5.698 | | 5/1 40-Year Jumbo Adjustable Rate2 | 5.875 | 1.000 | 5.646 | | 6.000 | 0.500 | 5.653 | | 6.250 | 0.000 | 5.700 | | 2/2 ARM 30-Year Jumbo (Purchase only)4 | 5.500 | 0.000 | 5.473 |
1 - APRs calculated using:
- Conforming: Loan amount of $650,000.00 + closing costs and points
- Jumbo: Loan amount of $850,000.00 + closing costs and points
2 - The index is the weekly average of the 1-year US Treasury securities adjusted to constant maturity of one year, as made available by the Federal Reserve. The caps are 2% annually and 6% lifetime based on the initial rate. The current index is 2.51. Your rate may be different than what is shown. Please use the Choose Rates feature on our application page to get a more exact rate.
3 - The HLPR loan is limited to borrowers meeting certain income limits. The index is the weekly average of the 1-year US Treasury securities adjusted to constant maturity of one year, as made available by the Federal Reserve. The caps are 1% annually and 5% lifetime based on the initial rate. The current index is 2.51. Your rate may be different than what is shown. Please use the Choose Rates feature on our application page to get a more exact rate.
4 - The 2/2 ARMs are adjustable rate mortgages with biennial adjustments (every 2 years). The index is the weekly average of the 1-year US Treasury securities adjusted to constant maturity of one year, as made available by the Federal Reserve. The current index is 2.51. The caps are 1% biennial and 8% lifetime based on the initial rate. Your rate may be different from what is shown. Please use the Choose Rates feature on our application page to get a more exact rate.
5 - Conforming loan limits have been temporarily increased to amounts up to $729,750.00. Please contact one of our home loan experts in your area or email us at mortgagelending@patelco.org.
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Equal Housing Lender