**For example, on a $10,000, 30 year loan with an initial interest rate of 2.250% the maximum amount the interest rate can rise under this program is 6.00 percentage points to 8.250% and the monthly payment can rise from an initial payment of $38.22 to a maximum of $75.13 in the 109th month. To see what your payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment by that amount. For example, the monthly payment for a mortgage amount of $60,000, using the initial interest rate shown above would be: $60,000 /$10,000 = 6; 6 x 38.22 = $229.32 per month. (Margin 2.75, Floor Rate 3.00%, 2/2/6% Caps, used the 3 year CMT Index)
***For example, on a $10,000, 30 year loan with an initial interest rate of 2.500% the maximum amount the interest rate can rise under this program is 6.00 percentage points to 8.500% and the monthly payment can rise from an initial payment of $39.51 to a maximum of $76.89 in the 85th month. To see what your payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment by that amount. For example, the monthly payment for a mortgage amount of $60,000, using the initial interest rate shown above would be: $60,000 /$10,000 = 6; 6 x 39.51 = $237.06 per month. (Margin 2.75, Floor Rate 3.00%, 2/2/6% Caps, used the 1 year CMT Index)