Licensed by the PA Department of banking COSI: Pick a Pay Loan What is it? The most innovative mortgage loan on the market today. How does it work? Your interest rate is comprised of a fixed margin and a floating index. The index is based on what our lender is currently paying its customers on their checking, savings, and CD accounts. Think about these questions; How much interest do you get paid on the balance of your checking or savings account? Not alot, Right! When you think about your checking and savings accounts do you think volatile or stable? Stable, otherwise you wouldn't keep your money there. You are given four monthly payment options starting with a minimum payment at 1.50%! This low minimum payment will create a significant monthly cash flow allowing you to pay off other debts, or invest for your future. COSI Loan Sample INDEX = 3.66 MARGIN = 3.25 Fully Indexed Rate = 6.91% Start Payment Rate = 1.5 Loan Amount: $300,000 Minimum Payment Option: $1034.00 Interest-Only Payment Option: $1728.00 30 Year Payment Option: $1966.00 15 Year Payment Option: $2666.00 You can choose from one of these four payment options each month, creating flexibilty in your monthly household budget. The payments shown below are the minimum payments over the next 5 years. This is the lowest payment the bank requires you to pay. The maximum this payment can increase each year is 7.50% (as shown below). This gives you piece of mind that your payment will not skyrocket. 2006 - $1034.00 2008 - $1195.00 2010 - $1381.00 2007 - $1112.00 2009 - $1285.00 2011 - $1485.00 Highlights Fixed Rate Conversion Option: You can convert this loan to 30 year fixed rate anytime between years 4 through 7. All you have to do is call customer service and submit a $200 fee. Equity Builder Option: Half of your mortgage payment is drafted out of your bank account every 14 days and it is applied to the loan balance immediately (14 day amortization). This will build equity faster than any loan in America. Call us so we can put together a comparison of this loan versus a typical 30 year fixed rate and show you how to increase your monthly cash flow and still pay your mortgage down!