Variable Rate Second Mortgage
Loan Information Sheet

Interest:
Based on the U.S. Treasury Security rate adjusted to a constant maturity of 1 year + 3% rounded to the nearest 1/4%. Adjustments are made annually on the 31st of March. The U.S. Treasury Security rate adjusted to a constant maturity of 1 year in effect on December 31st of the prior year, plus 3% rounded to the nearest 1/4% will be the rate used. The base rate of interest will not exceed plus or minus 1% per year, and will not exceed 5% over the life of the loan. You will be notified no later than 25 days before any rate change goes into effect. Annual percentage rates on varible loans will change yearly.

Property:
Only owner occupied property located within the State of California is eligible. A property located outside the State of California will require the approval of the Board of Directors of the ATD Federal Credit Union.

Loan Amount:
80% of the appraised value of the property less the balance due on the first mortgage up to a maximum of $200,000.

Repayment:
Up to 15 years (180 months) with NO PREPAYMENT PENALTY.

Processing Costs:
The Credit Union will not charge POINTS or LOAN FEES, however you must pay for an appraisal of the property and all title company costs.

Insurance:
Fire and Flood (if the property is located in a flood plain) must be sufficient to cover both the balance of the FIRST AND SECOND DEEDS OF TRUST.

Late Payments:
Will be charged at the rate of 10% of the monthly payment for each payment not received within 10 days of the due date.

* Denotes Special Promotional Rates

For more information call the ATDFCU 7:30am - 3pm PST 1-408-365-4444

ATDFCU does not use the Internet to collect any information about it's members

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