**Illustrative example of 8 month interest only period followed by 30 year fixed term assuming a $400,000 loan with an interest rate of 5.5%, 5.606% APR. During the first 8 months of the loan, the payment will be interest only based on the amount of outstanding principal balance. During year 1, payments can range from ($520.83) to ($2271.16), with the maximum payment starting with the 9th payment. Thereafter, a fully amortizing 30 year fixed rate loan based on $400,000 loan amount would have approximate monthly P&I payments as follows: 30 year = 360 payments of $2271.16. Rates current as of 5/4/2022.  Payment estimates do not include amounts for taxes and insurance; therefore the actual payment obligation will be greater. Rates are based on borrowers’ ability to qualify and are subject to market fluctuations which may change the rates without notice. 8 interest only term only available for loan amounts under 647,200. Loan amounts 647,200 and above will have different terms. This example is for demonstration purposes only and is not a commitment to lend. Rates, terms and conditions are subject to change without notice.