Select Program 30 Years Fixed 20 Years Fixed 15 Years Fixed 7/1 ARM 5/1 ARM 3/1 ARM Select Purpose Purchase Refinance Rate/Term Refinance Cash-out Dear Sharon, I want to compliment you and your staff for the wonderful treatment I received in the refinancing of my home. All of you were so kind...

Loan Programs FIXED RATE PROGRAMS Stable, lower risk! > 30 Years Fixed > 20 Years Fixed > 15 Years Fixed ARM PROGRAMS Popular among borrwers! > 7/1 ARM > 5/1 ARM > 3/1 ARM 30 YEARS FIXED   This loan has a fixed rate for the entire 30 year term of loan. The payment remains constant and the borrower pays off the loan in 30 years. This is one of the most stable, lowest risk programs available.   20 YEARS FIXED   This loan has a fixed rate for the entire 20 year term of the loan. The payment is higher than the 30 Years Fixed, but remains constant and the borrower pays off the loan in 20 years. This is one of the most stable, lowest risk programs available.   15 YEARS FIXED   This loan has a fixed rate for the entire 15 year term of the loan. The payment is higher than the 30 and 20 Years Fixed, but remains constant and the borrower pays off the loan in 15 years. This is one of the most stable, lowest risk programs available. 7/1 ARM   This is a popular program among borrowers planning to keep the loan more than five but less than seven years. The interest rate is fixed for the first 84 months of the loan's 30 year term. At the end of the 84 months, the interest rate adjusts to the lower of: For the LIBOR Index For the T-Bill Index The 1-Year LIBOR Index plus 2.25% margin, or The initial rate plus 5% The 1-Year T-Bill Index plus 2.75% margin, or The initial rate plus 5% Thereafter, the interest rate will adjust every 12 months to the lower of: For the LIBOR Index For the T-Bill Index The 1-Year LIBOR Index plus 2.25% margin, or The previous rate plus 2%, or The initial rate plus 5% The 1-Year T-Bill Index plus 2.75% margin, or The previous rate plus 2%, or The initial rate plus 5%   5/1 ARM   This is a popular program among borrowers planning to keep the loan more than three but less than five years. The interest rate is fixed for the first 60 months of the loan's 30 year term. At the end of the 60 months, the interest rate adjusts to the lower of: For the LIBOR Index For the T-Bill Index The 1-Year LIBOR Index plus 2.25% margin, or The initial rate plus 5% - Conf. The initial rate plus 5% - Jumbo The 1-Year T-Bill Index plus 2.75% margin, or The initial rate plus 5% - Conf. The initial rate plus 5% - Jumbo Thereafter, the interest rate will adjust every 12 months to the lower of: For the LIBOR Index For the T-Bill Index The 1-Year LIBOR Index plus 2.25% margin, or The previous rate plus 2%, or The initial rate plus 5% - Conf. The initial rate plus 5% - Jumbo The 1-Year T-Bill Index plus 2.75% margin, or The previous rate plus 2%, or The initial rate plus 6% - Conf. The initial rate plus 5% - Jumbo   3/1 ARM   This is a popular program among borrowers planning to keep the loan less than three years. The interest rate is fixed for the first 36 months of the loan's 30 year term. At the end of the 36 months, the interest rate adjusts to the lower of: For the LIBOR Index For the T-Bill Index The 1-Year LIBOR Index plus 2.25% margin, or The initial rate plus 2% The 1-Year T-Bill Index plus 2.75% margin, or The initial rate plus 2% Thereafter, the interest rate will adjust every 12 months to the lower of: For the LIBOR Index For the T-Bill Index The 1-Year LIBOR Index plus 2.25% margin, or The previous rate plus 2%, or The initial rate plus 6% The 1-Year T-Bill Index plus 2.75% margin, or The previous rate plus 2%, or The initial rate plus 6% Equal Housing Lender. Casa Blanca Mortgage, Inc., DBA Shearson Mortgage. Some products may not be available in all states. ©2008 Shearson Mortgage. All rights reserved.

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