The COSI Loan is an adjustable payment loan that uses the Cost of Savings Index (COSI) to base its lending.  The COSI or Cost of Savings Index contains an average of interest checking, savings, and 3, 4, and 5 year Certificates of Deposits or CD's.  The COSI does change monthly, while the margin remains fixed for the life of the COSI loan, so your rate is comprised of the index and a fixed margin.  Also, you can expect that your payment will change annually on a specific date with a COSI Loan.

The Cost of Savings Index has been exceptionally stable over the last ten years and is attracted many borrowers in these uncertain times.  Compare free multiple mortgage quotes.

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