This free Adjustable Rate Rider (1 Year Treasury Index - Rate Caps) is used to adjust the interest rate and monthly payments under the mortgage note.
- Once it's been signed, the Rider will form part of the mortgage, deed of trust or security deed.
- The borrower agrees that the interest rate may change once in each 12-month period.
- The new rate will be based on a weekly average yield on US Treasury securities adjusted over a 1-year maturity.
- The interest rate will not increase or decrease more than the percentage amount stated in the Rider.
- This Rider is for mortgages on single-family homes.
Fannie Mae/Freddie Mac Form 3108 USA Multistate Adjustable Rate Mortgage Rider
is a free MS Word download from freddiemac.com
Last Updated: 14-April-2016