ARM Loans
Adjustable-rate mortgages (ARM) are indexed-based mortgage loans. They provide extra payment flexibility and offer interest rates as low as 1%.
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Cost of Savings Index (COSI)
COSI loans are typically adjustable-rate mortgages priced at a spread to the cost of savings index (COSI). COSI measures the average interest rate paid to depositors on checking, savings and CDs. Due to their lower interest rates, COSI mortgages often free up enough money in your monthly budget to make additional principal payments.
Similar to the COSI is the Cost of Deposit Index (CODI), where the index is based in the 12 most recent monthly yields on 3-month CD’s. Both a COSI and a CODI mortgage loan can be a great way to potentially reduce your total interest expense.
Like all ARM loans, COSI and CODI loans offer low mortgage rates, flexible payments and the possibility of reducing your principle and payments as you pay back the loan.
Apply Now to try the COSI loan today!