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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