5/1 ARM Rate - Rate displayed assumes that you are refinancing an owner-occupied single family home. Rate Loan refinance mortgage loan and assumes a loan amount of at least $200,000 and may include up to 2 points (1 point equals 1% of the loan) with all borrowers having a credit score of at least 740, a debt-to-income ratio of 43% or lower, a property loan-to-value of 60% or less with all asset and reserve requirements met. Home value for loan to value (LTV) uses automated valuation models (AVM). Actual appraised values may be different which could lead to a different interest rate availability. After five years, the interest rate becomes adjustable based on the following formula: Rate = Index + Margin. Caps are 5/2/5. Margin is fixed at 2.25%. Index is based on the one year Libor. Your APR may be higher if Mortgage Insurance is required or if an affiliated service provider is used. There is no guarantee that all borrowers will qualify and approval is subject to verification of credit, income, assets, and value, among other criteria. This is not a commitment to lend. Interest rates are valid as of October 11, 2020. Your actual rate and payment may be different based on many factors. Payments displayed do not include Mortgage Insurance, Taxes or Hazard Insurance payments, if required.