* Adjustable-Rate Mortgage:  
The example loan rate of 3.50 % for a 30-year $150,000 5-year Adjustable-Rate Mortgage (ARM) for purchase and refinance loans is generally based on the following criteria: a borrower with good to excellent credit and average income seeking a loan for a single family, owner occupied one unit dwelling with 30% down payment (or 70% loan to value ratio).  The monthly payment on this example loan is $674 plus monthly taxes and insurance of $150 with 2 points due at closing. After 5 years, the interest rate and payment will adjust every year.  The potential interest on the example loan after 5 years could be about 3.50% based on an ARM index of 1.184% (LIBOR index) and an ARM margin of 2.25%.  The corresponding monthly payment at 3.50% would be $665, not including real estate taxes or homeowners’ insurance. The Annual Percentage Rate (APR) is 3.24%.  Rate and APR and other terms may vary from those displayed based on the creditworthiness of the borrower, the type of dwelling, whether the borrower is self-employed, the location of the property and other factors.  The rates and terms you are offered are the responsibility of the lender and will vary based upon your loan request as determined by the lenders to whom you are matched.  There is a possibility that you may not be matched with the lender making this example offer.  Not available in all states.  Advertised rates are subject to change. This example rate was last updated on January, 31 2011 and includes 1.875 points.  Important Facts about Adjustable Rate Mortgage Loans. Whether you are buying a house or refinancing your mortgage, this information can help you decide if an ARM is right for you. ARMs can be complicated. If you do not understand how they work, you should not sign any loan contracts, and you might want to consider other loans. With an ARM, the interest rate on your loan is not fixed. Instead, it changes over time according to a formula - typically, a base interest rate (index) plus a certain percent (margin) (for example, Libor plus 3 percent). So, if the base interest rate increases, your interest rate and monthly payment will also increase. Please see the lenders' websites for the specific disclosures related to loans offered by our lenders.