The rate provided is for a typical Adjustable Rate Mortgage(ARM) with a rate of 3.00% for a 30 - year $200,0005-year Adjustable ARM. This would apply for both purchase and refinance loans and is based on general criteria such as: a borrower with good credit, average income, financing an owner occupied single family home with a 30% down payment (or 70% loan to value). The monthly payment on this example loan would be approximately $846 plus monthly taxes and an estimated insurance payment of $180 with 1.375 points due at closing. The interest rate and payment will adjust every year after the initial 5 year term. The Annual Percentage Rate (APR) is 3.198%. Rate and APR and other terms may vary from those displayed based on the type of home, the location of the home being financed, the credit score of the individual as well as their employment situation and other factors. Your information will be sent to up to 5 lenders and the final rates and terms you are offered will be determined by them and will vary according to the final loan request. It is also possible that one of the lenders you are matched with will be able to offer you the example rate quoted. This offer may not be available in all states and rates are subject to change. This example rate was last updated on March9, 2011 and includes 1.375points. It is important to note that Adjustable Rate Mortgage Loans can be complicated so you should spend the time and ask questions to ensure you understand how they work and the risks involved before you sign any loan contracts, and you might want to consider other loans. The interest rate on an ARM is not fixed but changes overtime according to a formula which is typically a base interest rate (index) plus a certain percent (margin) (for example, Libor plus 3 percent). So, if the base interest rate increases, your interest rate and monthly payment will also increase. Please see the lenders' website's and carefully examine their loan contracts for the specific disclosures related to the loans they offer.