Consumer Handbook on Adjustable Rate Mortgages

Basic Features for Comparison

Fixed-rate annual percentage rate (the cost of your credit as a as a yearly rate which includes both interest and other charges) __________ __________ __________ __________ __ ARM annual percentage rate __________ __________ Adjustment period __________ __________ ____ Index used and current rate __________ __________ ____ Margin __________ __________ ____ Initial payment without discount __________ __________ ____ Initial payment with discount (if (if any) __________ __________

How long will discount last? __________ __________ ____ Interest rate caps: periodic __________ __________ ____ overall __________ __________ __________ __________ _ Payment caps __________ __________ ____ Negative amortization __________ __________ ____ Convertibility or prepayment privilege __________ __________ ____ Initial fees and charges __________ __________ ____ Monthly Payment Amounts

What will my monthly payment be after twelve months if the index rate:

stays the same __________ __________

goes up 2% __________ __________ goes down 2% __________ __________ What will my monthly payments be after three years if the index rate:

stays the same __________ __________

goes up 2% per year __________ __________ goes down 2% per year __________ __________ Take into account any caps on your mortgage and remember it may may run 30 years. _ .