ARMs (Adjustable Rate Mortgages)

ARM Type
CAP on first rate adjustment
CAP on subsequent annual adjustments
Lifetime CAP
3/1
2.00%
2.00%
6.00%
5/1
2.00%
2.00%
5.00%
7/1
5.00%
2.00%
5.00%
ARM Type
CAP on first rate adjustment
CAP on subsequent adjustments
Lifetime CAP
2/2
1.00%
1.00%
8.00%
3/5
2.00%
2.00%
5.00%
5/5
2.00%
2.00%
5.00%

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See Glossary for definition of ARM Types

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