Basic Features |
Plan A |
Plan B |
Fixed annual percentage rate |
![Fill in blank of percentage for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox2.gif) |
![Fill in blank of percentage for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox2.gif) |
Variable annual percentage rate |
![Fill in blank of percentage for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox2.gif) |
![Fill in blank of percentage for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox2.gif) |
- Index used and current value
|
![Fill in blank of percentage for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox2.gif) |
![Fill in blank of percentage for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox2.gif) |
|
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
- Frequency of rate adjustments
|
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
- Amount/length of discount (if any)
|
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
- Interest rate cap and floor
|
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Length of plan |
|
|
Draw period |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Repayment period |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Initial fees |
|
|
Appraisal fee |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Application fee |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Up-front charges, including points |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Closing costs |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
|
Repayment Terms |
Plan A |
Plan B |
During the draw period |
|
|
Interest and principal payments |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Interest-only payments |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Fully amortizing payments |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
When the draw period ends |
|
|
Balloon payment? |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Renewal available? |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
Refinancing of balance by lender? |
![Fill in blank for Plan A](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
![Fill in blank for Plan B](https://webarchive.library.unt.edu/eot2008/20090511055819im_/http://www.federalreserve.gov/pubs/homeline/gif/chkbox.gif) |
|