Residential Loan Products

1-Year Adjustable

This product offers a very low interest rate, has no prepayment penalty and may be convertible to a fixed rate product from the 13th to the 60th month. The interest rate is fixed for 12 months. It then adjusts annually based on Libor or the FFCB Index plus the established margin. It has an annual adjustable cap of 2% and a life time of 6%. Terms of 5 to 25 years are available.

3/1 and 5/1 Adjustable

These products offer an initial rate that is lower than a long-term fixed rate while giving you the protection of a limited fixed rate period. They have no prepayment penalties and are convertible to a fixed rate product on the 1st, 2nd and 3rd interest rate change dates. These products have initial fixed rates for periods of 3 and 5 years, respectively and then adjust annually. The adjusted rate is based on the LIBOR Index plus the established margin. They have an annual adjustable cap of 2% and Life Time Caps of 6.00%. A 25 year term is available.

10/1 Adjustable

This product offers the security of a 10-year fixed rate period with amortization terms of 15 to 25 years and no prepayment penalties. It has an initial fixed rate for a period of 10 years and then adjusts annually. The adjusted rate is based on the FFCB index plus the established margin. It has no annual adjustable cap and a life time cap of 9%.

15/1 Adjustable

This product offers the security of a 15-year fixed rate period with amortization terms of 15 to 25 years and no prepayment penalties. It has an initial fixed rate for a period of 15 years and then adjusts annually. The adjusted rate is based on the FFCB index plus the established margin. It has no annual adjustable cap and a lifetime of 9%.

10-Year, 15-Year, 20-Year and 25-Year Fixed

These products offer you the security of a fixed rate for the life of the loan. They have matching loan terms and there are no prepayment penalties.