| *Rates as of November 22, 2006. Bank of Internet Home Equity Loan is fixed for 5 years with a low interest only
minimum payment, followed by 20 years of fully amortizing monthly payments of principal and interest.
The Annual Percentage Rate (APR) for our Home Equity ARM Loan may adjust annually after the 60th month
and is indexed to the weekly average yield on U.S. Treasury Securities adjusted to a constant maturity
of one year plus a margin. Index values are published by the Federal Reserve in Statistical Release H.15 (519).
The above example reflects an initial fixed rate of 7.115% for 5 years and interest only minimum payments,
the APR would be 7.622%. The maximum APR after the 60th month is 6% above the initial fixed rate (13.115% in this example)
and may only increase or decrease a maximum of 2% annually. To qualify for the lowest rate, customers must take out a
loan amount of $75,000 or more, have excellent credit history, meet loan to value conditions and certain income and
property requirements. Certain limitations apply. Loans subject to credit approval. Rates and APRs shown are subject
to change without notice. Monthly payment example: A 25-year home equity ARM loan for $75,000, with a simple
fixed-interest rate of 7.115% would have 60 monthly interest only minimum payments of $445 each followed by
240 payments of principal and interest which may adjust annually; however, other loan terms are also available.
Home Equity Loan ARM programs are currently available in the following states: California, New Jersey,
Illinois, Pennsylvania, Washington, Arizona, and Ohio. Fixed Rates Installment Loans are available in all states except Louisiana, Oklahoma, South Carolina and Texas. Third party fees may apply. Adequate homeowner’s
insurance coverage is a requirement of this loan. Consult a tax advisor concerning the deductibility of interest. |
