Basic Features |
Plan A |
Plan B |
| Fixed annual percentage rate |
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| Variable annual percentage rate |
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- Index used and current value
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- Frequency of rate adjustments
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- Amount/length of discount (if any)
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- Interest-rate cap and floor
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| Length of Plan |
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| Draw period |
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| Repayment period |
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| Initial fees |
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| Appraisal fee |
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| Application fee |
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| Up-front charges, including points |
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| Closing costs |
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Repayment Terms |
Plan A |
Plan B |
| During the draw period |
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| Interest and principal payments |
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| Interest-only payments |
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| Fully amortizing payments |
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| When the draw period ends |
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| Balloon payment? |
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| Renewal available? |
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| Refinancing of balance by lender? |
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