5.25%  1 Year Adjustable Interest Rate 

This interest rate will remain the same for one year.  It will adjust on each anniversary of the loan to the then current 1-year adjustable interest rate. It may not adjust more than 1.5% (150 basis points) up or down at any annual adjustment or 5% (500 basis points) over the life of the loan. 

Note:   This is also the rate for the "Construction Phase" on loans combining construction and permanent financing.

5.50%  3 Year Adjustable Interest Rate

This interest rate will remain the same for three years.  It will adjust on each third anniversary of the loan to the then current 3-year adjustable interest rate. It may not adjust more than 3% (300 basis points) up or down at any three year adjustment or 5% (500 basis points) over the life of the loan.

5.75%  5 Year Adjustable Interest Rate

This interest rate will remain the same for five years.  It will adjust on each fifth anniversary of the loan to the then current 5-year adjustable interest rate. It may not adjust more than 5% (500 basis points) up or down over the life of the loan.