Adjustable Rate Mortgage (ARM) Program
ARMs require 5% down payment. Adjustment could occur after initial term. Adjustment is based on 1-year LIBOR plus margin of 2.75%. Caps on 1, 3, and 5-year 2% and 6%. Caps on 7-year 5% initial, and 2% and 5% thereafter. No conversion option. Published rate may be adjusted based on credit score, down payment, debt ratio, and employment income.