Cost of Savings Index - COSI

Current COSI Index Rates
Index	Rate	Change

YOUR MONTHLY PAYMENT OPTIONS:
Rates example based on $200,000

Each month, you will receive an easy-to-read loan statement that lets YOU CHOOSE the payment amount that best suits your current financial needs. Pay the minimum to free up funds for other uses, or make larger payments for faster equity build-up.

Minimum payment: Payment $734.00
Choose this option to let you keep more cash now and keep monthly payments manageable. Generally, this payment changes annually and is calculated using the initial interest rate "Start Rate" for the first 12 months. After that, the minimum payment is usually recalculated annually based on the outstanding principal balance, remaining loan term and prevailing interest rate. A 7.5% adjustment cap (of the previous payment, NOT interest rate) limits how much this payment can increase or decrease each year. Interest rate adjustment feature and payment change cap, and certain payment options, can result in deferred interest. For example, if your previous start rate payment was $1,000 per month, the highest it can increase would be $1,075 (per year).

Interest-only payment: Payment $811.67
Keep payments manageable while paying all your interest.

At those times when the Minimum Payment is not enough to pay the monthly interest due, you can avoid deferred interest with this option. You pay the minimum monthly payment and all additional interest accrued during the month. So you avoid deferred interest, and your payments are still manageable. Note: This option does not result in principal reduction.

Fully amortized payment: Payment $1057.80 Reduce your principal and pay off your loan on schedule.

It's calculated each month based on the prior month's interest rate, loan balance and remaining loan term. When you choose this option, you reduce your principal and pay off your loan on schedule, just like any standard loan.

15-year payment: $1568.07
Own your home twice as fast.

If you want to build equity faster, pay off your loan quicker and save on interest, this is the option for you. It's calculated to amortize your loan based on a 15-year term from the first payment due date.

Bi-Monthly Option: Pay off your 30 Year loan in under 24 years keeping monthly payment the same.

Add this option to let us automatically deduct 1/2 your mortgage payment every two weeks from your checking account. This is a great way to manage your mortgage, and save thousands more by paying your loan off years faster.

• The most stable adjustable rate index in America.
• Less points than most conventional low rate mortgages.
• Most COSI loans have starting interest rates below 2.00% and most will take up to 5 years to increase to a stable fully indexed rate.
• The COSI mortgage offers the best bi-weekly payment feature in the business. This bi-weekly feature will automatically pay off a 30-year loan in just 23 years, saving tens of thousands of dollars, as an end result. One half of the payment will be directly withdrawn from a pre-determined bank account every 14 days.
• There is no price increase for Jumbo mortgages to $600,000! Only slight program modifications for loans up to $900,000
• The COSI loan does not require escrow accounts for taxes and insurance. This will result in a lower overall cash requirement at closing. Many tax municipalities also will provide you discounts for prompt payment on property taxes. Lenders will not usually pay your taxes by any offered discount date.
• The COSI ARM has a low annual payment cap of 7.5%, lower than any T-Bill ARM. This is about the same as a .875% annual interest rate cap.
• 90% limited doc loans are offered by combining 2 mortgages (70/20 loan).
• The COSI mortgage is also assumable. When selling a house every advantage helps. A buyer can take over your COSI mortgage were you left off.
• The COSI loan can be a no documentation mortgage. With a 20% down payment you will not have to document your income or employment. If a 25% down payment is made the lender requires no documentation of income; employment or assets needed to buy the new house. The COSI loan is perfect for the small or large business owner who does not desire to provide the mountain of paperwork needed to complete a standard mortgage

Consider a COSi If:

• You want to minimize your house payment-smallest you can get anywhere
• You want to minimize your house payment to pay off other debt.
• You want to minimize your house payment to invest the difference elsewhere
• You want to control the amount of tax-deductible interest you pay each month.
• You want to maximize your buying power.
• Your income tends to fluctuate or you're confident that your income will rise over the years.