Form H-19(B) - Adjustable-Rate Mortgage Model Form
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2H-19(B) Adjustable-Rate Mortgage Model Form
(Name of Creditor)
(Loan Originator Unique Identifier)
LOAN SUMMARY
Loan Amount:
$_____
Loan Term:
(length of term)
Loan Type and
[Step-Rate Mortgage][Adjustable Rate Mortgage]: rate [is fixed for first (period), then] adjusts
every (frequency).]
Features:
[Includes [interest-only payments][step-payments]]
Total Settlement
$_____
[$_____ of these charges are already included in your loan amount above.]
Charges:
[This total does not include a down payment. See your Good Faith Estimate or HUD-1 for
details.]
[Prepayment
Up to $_____ if you pay off your loan, refinance, or sell this property within (period).]
Penalty:
ANNUAL PERCENTAGE RATE (APR)
Overall cost of this loan,
___%
including interest and
APR
settlement charges:
How does this loan compare? For the week of (date), the average APR on similar [but ] conforming loans offered
to applicants with excellent credit was ____%. Today, an APR of ____% or above is considered high cost and is
usually available to applicants with poor credit history.
How much could I save by lowering my APR? For this loan, a ___% reduction in the APR could save you an
average of $_____ each month.
INTEREST RATE AND PAYMENT SUMMARY
[MAXIMUM at
INTRODUCTORY
FIRST
MAXIMUM EVER
Rate & Monthly
ADJUSTMENT
(as early as (date))
Payment
(date)]
(for first (period))
___%
[___%]
___%
Interest Rate
$_____
[$_____]
$_____
Principal + Interest Payment
Est. Taxes + Insurance [(Escrow)]
[$_____]
[$_____]
[$_____]
[Includes [Private] Mortgage Insurance]
Total Est. Monthly Payment
[$_____]
$_____
$_____
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