Details.
Adjustable-rate mortgage options include 7/1 year rates at 6.250%, 5/1 year rates at 6.000%, and 10/1 year rates at 6.500%. The fully indexed rate is 6.750%. ARM rates and APRs may increase after consummation. The interest rate is based on the 1-year U.S. Treasury Bill plus a margin of 2.75%, with adjustments capped at 2.00% per adjustment period and a lifetime maximum increase of 6.00%. Rates apply to single-family primary residences and second homes for purchases or refinances, with a loan-to-value ratio of 80% or less and a 60-day rate lock period. Actual rates may vary, are subject to change without notice, and require credit approval.