4.25% 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 annual 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.
4.50% 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.
4.75% 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.
Each loan may be made on a 20-year term. All rates cannot fall below a floor rate of 4.25%. No penalty for early pay off. Interest dollars help support Baptist ministries.
Effective 2/01/2012