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Access 7/6 SOFR ARM Disclosure.pdf

7-6-SOFR-ARM-Disclosure-Fillable.pdf

Preview of Access 7/6 SOFR ARM Disclosure

🔗 Source: homebridgewholesale.com

📊 Size: 99 KB

📄 Pages: 1 page

⬇️ Downloads: 50

Summary

This disclosure notice is for a 7/6 mo. 30-day Average SOFR Non-Convertible ARM loan from Homebridge Financial Services, Inc. The interest rate is based on an index rate (30-day Average SOFR) plus a margin, and can change every 6 months after the first 7 years. The rate cannot increase or decrease more than 2 percentage points at the first adjustment, 1 percentage point at subsequent adjustments, and 5 percentage points above the initial rate over the loan term. The monthly payment can also change after each interest rate adjustment, with notifications provided at least 210-240 days before the first payment at the adjusted level. The loan has a 30-year term and does not contain a demand feature, but may be assumable by someone buying the house.

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Description

This disclosure notice is for a 7/6 mo. 30-day Average SOFR Non-Convertible ARM loan from Homebridge Financial Services, Inc.

Technical Information

File Format: PDF
File Size: 99 KB
Pages: 1
Language: EN
Total Downloads: 50
Last Updated: 1 week ago

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